Today, the US Chamber of Commerce’s Center for Capital Markets Competitiveness hosted a half-day session on “Corporate Disclosure Reform: Ensuring a Balanced System that Informs and Protects Investors and Capital Formation.” The session, which was webcast through the Chamber’s site, included various presentations from former SEC officials, as well as from Keith Higgins, Director of the SEC’s Division of Corporation Finance. The various panels discussed their views on various alternative approaches for modernizing corporate disclosures through more effective use of company websites, streamlining of certain SEC Exchange Act forms, and a variety of other means.
Higgins urged the public to send in comments, including their suggestions, regarding the disclosure reform project. He noted that the SEC had received very few comment letters in the period leading up to the SEC’s publication of the JOBS Act-mandated Regulation S-K study. Higgins noted many of his own suggestions regarding disclosure reform, such as the need to reduce repetition in corporate filings.
The Center also published a white paper on disclosure reform, which may be accessed here: http://www.centerforcapitalmarkets.com/wp-content/uploads/2014/07/CCMC_Disclosure_Reform_Final_7-28-20141.pdf