On 25 August 2016 the SEC issued a request for public input regarding the modernisation and simplification of Items 401 through 407 of Regulation S-K, which codifies disclosure requirements that relate primarily to a registrant's management, certain security holders and corporate governance matters.
The proposed changes do not affect Form 20-F and therefore would not apply to foreign private issuers.
In particular, the SEC is proposing to update disclosure requirements related to:
- compensation and biographies of officers, directors, promoters and control persons;
- beneficial ownership of securities and related party transactions; and
- officer ethics programmes and corporate governance measures.
The comment period will remain open until 31 October 2016. For further information, see the SEC release at:
https://www.sec.gov/rules/other/2016/33-10198.pdf
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
