The Securities and Exchange Commission proposed amendments to existing rules to modernize and simplify disclosure obligations for public companies, investment advisers and investment companies as required under the Fixing America’s Surface Transportation Act. The SEC’s recommended amendments would, among other things, authorize registrants to forgo including discussion of the oldest information in their Management Discussion and Analysis to the extent the material has previously been reported and is no longer relevant. Also, the proposed changes would authorize registrants to exclude certain confidential information from material contract exhibits if not material and would cause competitive harm if publicized. The SEC will accept public feedback through 90 days after publication of the proposed amendments in the Federal Register.