On August 8, the SEC proposed amendments to some key items of Regulation S-K that could dramatically change the disclosure landscape. The items in question are Items 101 (Business), 103 (Legal Proceedings), and 105 (Risk Factors). Among other things, the proposals would make a major move towards principles-based disclosure; would allow companies to update – rather than restate – some prior disclosures; and would add human capital and changes in strategy to the list of matters to be considered for disclosure.
The proposals, which could lead to the most significant disclosure changes in more than 30 years, are subject to a 60-day comment period, meaning that – at least in theory – they could go into effect in 2020.
Further details on the proposals will be available shortly in The Securities Edge, our securities and corporate governance blog. If you have any questions in the meantime, please contact Gunster securities law and corporate governance practice leader Bob Lamm or Gus Schmidt.
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This publication is for general information only. It is not legal advice, and legal counsel should be contacted before any action is taken that might be influenced by this publication.
Gunster, Florida’s law firm for business, provides full-service legal counsel to leading organizations and individuals from its 12 offices statewide. Established in 1925, the firm has expanded, diversified and evolved, but always with a singular focus: Florida and its clients’ stake in it. A magnet for business-savvy attorneys who embrace collaboration for the greatest advantage of clients, Gunster’s growth has not been at the expense of personalized service but because of it. The firm serves clients from its offices in Boca Raton, Fort Lauderdale, Jacksonville, Miami, Orlando, Palm Beach, Stuart, Tallahassee, Tampa, The Florida Keys, Vero Beach, and its headquarters in West Palm Beach. With nearly 200 attorneys and 200 committed support staff, Gunster is ranked among the National Law Journal’s list of the 500 largest law firms and has been recognized as one of the Top 100 Diverse Law Firms by Law360. More information about its practice areas, offices and insider’s view newsletters is available at www.gunster.com.