Things have been hopping at the Securities and Exchange Commission lately.
In rapid succession on July 13, the SEC sent out four press releases announcing a series of actions taken during its open meeting in Washington, D.C.
Topping the list is the SEC’s plan to “eliminate redundant, overlapping, outdated, or superseded provisions.” The proposed amendments come in the wake of technological advances and changes in Generally Accepted Accounting Principles, International Financial Reporting Standards, and in the SEC’s own disclosure requirements.
The SEC is also seeking comments on disclosure requirements that overlap with GAAP “to determine whether to retain, modify, eliminate, or refer them to the Financial Accounting Standards Board for potential incorporation into U.S. GAAP.”
The proposed amendments “are designed to further inform the Commission’s actions to enhance disclosure,” the SEC explains.
Get complete details here.
In other action, the SEC:
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