The Fixing America’s Surface Transportation Act, or FAST Act, required the SEC to consider ways to streamline its regulations. Accordingly, the SEC adopted final amendments to its rules in March 2019 to modernize and simplify certain disclosure requirements in Regulation S-K, and related rules and forms, in a manner that reduces the costs and burdens on registrants while continuing to provide all material information to investors. The amendments are also intended to improve the readability and navigability of disclosure documents and discourage repetition and disclosure of immaterial information.
The majority of the SEC’s final FAST Act rules are effective as of May 2, 2019.
Public companies and their advisors tasked with drafting and finalizing SEC reports and registration statements should carefully consider the substantive and technical changes to the SEC’s forms, rules and regulations triggered by the FAST Act amendments.
You can find our complete analysis of the FAST Act amendments here.
Our discussion of the technical changes to crucial SEC forms resulting from the FAST Act amendments is available here.