SEC proposes rule amendments under the FAST Act to modernize and simplify disclosure

The SEC recently proposed amendments intended to update, streamline and improve its disclosure framework and to reduce the compliance burden for public companies. The proposed amendments, which are detailed in the proposing release, would implement the SEC's mandate under the Fixing America’s Surface Transportation Act (FAST Act). Comments on the proposed amendments are due by January 2, 2018.

Although they represent an encouraging first step in updating the SEC's disclosure rules, the proposed amendments, if adopted, will result in only modest changes to existing disclosure requirements. The proposals nevertheless warrant careful review by those involved in disclosure compliance. The SEC continues to consider other changes to its rules as part of its disclosure reform project.

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