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

SEC Release No. 33-10064

• 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