Defining Issues | April 2016
SEC issues concept release on modernizing Regulation S-K
KPMG reports on potential future changes to Reg S-K disclosures. The Jumpstart Our Business Startups Act led SEC to seek comments in modernizing business and financial disclosures required by Regulation S-K.
Applicability
- Company that files with the SEC subject to Regulation S-K
Relevant dates
- April 13, 2016 – SEC issued concept release
- July 21, 2016 – Comments deadline
Key impacts
- While the SEC’s concept release does not immediately affect public company financial reporting, it may significantly impact future reporting
- The SEC has yet to propose changes to financial reporting requirements, pending comments
Report contents
- Disclosure framework
- Information for investment and voting decisions
- Presentation and delivery of important information