Insight

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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