On October 4, 2018, the Securities and Exchange Commission published its Disclosure Update and Simplification Release,1 which contained final rules amending disclosure requirements that the Commission deemed “redundant, duplicative, overlapping, outdated, or superseded.” These rule changes affect both the information public reporting companies must report and how they do so in filings with the Commission. The new rules became effective November 5, 2018.
To assist public reporting companies in addressing the new rules when preparing annual reports on Form 10-K, Pepper Hamilton has summarized the Regulation S-K changes implemented by these rules in two tables. The abridged table (available here) provides a brief summary of how the rules impact each Form 10-K item. The full table (available here) contains a brief summary as well as a redline version of the relevant Regulation S-K item changed by the rules. The tables do not cover any changes to Regulation S-X, which governs financial statement requirements.