Will Form 5495 Liability 2017-2024

Music. I'm attorney Laura Anthony, founding partner of Legal & Compliance, a full-service corporate securities and business transactions law firm. Today, I will be discussing the SE C's proposed rule amendments to modernize and simplify disclosure requirements for public companies, investment advisors, and investment companies. In the next few installments of this lawcast series, I will go through the rule amendments proposed by the SEC on October 11, 2017. Following that, I will review the rule amendments proposed earlier on July 13, 2016, which are scheduled for action this year. First, under a description of property item 102, I don't want to require disclosure of the location and general character of the principal plants, mines, and other materially important physical properties of the company and its subsidiaries. The instructions to item 102 mandate the disclosure of information reasonable enough to inform investors about the suitability, adequacy, productive capacity, and utilization of facilities. The proposed amendment will emphasize materiality and will only require a company to disclose physical properties that are material to the company. Second, management discussion and analysis (MD&A) item 303. Item 303 requires a company to discuss its financial condition, changes in financial condition, and results of operations using a year-to-year comparison. The discussion must cover the period of the financial statements in the report, which is two years for smaller reporting companies or emerging growth companies, and three years for others. In cases where trend information is relevant, the discussion may include up to five years, with the disclosure of selected financial data in graph form. The proposed amendment would allow the company to eliminate the earliest year in its discussion if it is not material to an understanding of the current financial condition. However, the company must have filed a prior Form 10-K with an MD&A discussion of the...