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SEC amends financial disclosure rules
The Securities and Exchange Commission has announced that it has voted to adopt amendments to its rules and forms to improve for investors the financial information about acquired or disposed businesses, facilitate more timely access to capital, and reduce the complexity and costs to prepare the disclosure. The amendments will update Commission rules which have not been comprehensively addressed since their adoption, some of them over 30 years ago.
The final rules, which affect SEC rules at 17 CFR parts 210, 230, 239, 240, 249, 270, and 274, will be effective January 1, 2021. Compliance will be required beginning with each registrant's fiscal year beginning on or after that date.