On March 20, 2019, the Securities and Exchange Commission (the “SEC”) voted to adopt certain rule changes (the “New Amendments”) to modernize and simplify disclosure requirements for U.S. domestic registrants and U.S.-registered foreign private issuers (“FPIs”).[1] These changes are the result of the congressional mandate contained in the Fixing America’s Surface Transportation (FAST) Act of 2015, which directed the SEC to modernize and streamline Regulation S-K and certain related SEC rules and forms. The final rule changes embodied in the New Amendments are consistent with the amendments as proposed in October 2017 with a few minor exceptions, and like similar rule changes in November 2018, are meant to reduce redundant and extraneous relevant and material disclosure to investors.[2]
May 9, 2019
