Company Disclosures: Less Redundant Data, No Penalties for Minor Errors.
New rules aim to reduce burdens on companies by requiring the Securities and Exchange Commission (SEC) to explain why certain less important information must be disclosed. Importantly, citizens will not be able to sue companies for omitting this less material data, which may reduce lawsuits and ease business operations.
Key points
The SEC must publicly explain why companies need to disclose certain less material information.
Companies will not be liable in private lawsuits for failing to disclose this less material information.
The SEC will report to Congress every five years, justifying the need for these disclosures.
Status:
Expired
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