Corporate and Financial Weekly Digest - Volume XI, Issue 23

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SEC/CORPORATE -

SEC Adopts Amendment to Form 10-K Permitting the Summary of Business and Financial Information -

On June 1, the Securities and Exchange Commission adopted an interim final rule (Rule), as mandated by the Fixing America’s Surface Transportation Act (FAST Act), that amends Form 10-K to permit, but not require, issuers to provide a summary of business and financial information contained in the annual report pursuant to new Item 16. Rather than establishing rules regarding the length or content of the summary, the Rule (which became effective on June 9) is principles-based and grants each issuer flexibility in preparing a summary, so long as the information is presented fairly and accurately.

Please see full publication below for more information.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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