On November 19, 2020, the Securities and Exchange Commission (“SEC”) announced that it has adopted certain amendments to certain financial disclosure requirements in Regulation S-K relating to the management’s discussion and analysis (the “MD&A”), as well as in related rules and forms. The amendments “modernize, simplify and enhance certain financial disclosures called for by Regulation S-K, and related rules and forms, in a manner that reduces the costs and burdens on registrants while continuing to provide material information to investors.” Reflecting the SEC’s long-standing commitment to principles-based disclosure, they eliminate some prescriptive requirements and allow registrants to exercise judgment based on materiality. They also include conforming changes to the disclosure requirements for foreign private issuers, such as in Form 20-F.
November 30, 2020
