The Securities and Exchange Commission wants to eliminate some repetitive financial disclosure requirements and bolster its rules for reporting accounting estimates.
The commission released the proposed amendments to Regulation S-K Thursday and issued guidance for performance metrics included in a company’s management discussion and analysis. The amendments represent the commission’s latest batch of changes intended to modernize and simplify its non-financial reporting rules.
Under the proposal, companies would:
- No longer be required to report five years of financial data, two years of quarterly financial data, or a table listing contractual obligations.
- State an objective for their management discussion and analysis...