In August 2018, the Securities and Exchange Commission (SEC) adopted rule amendments to streamline its disclosure requirements by eliminating or updating certain requirements that:
- are redundant, duplicative or overlapping because they require substantially the same disclosures as U.S. Generally Accepted Accounting Principles (GAAP), International Financial Reporting Standards (IFRS) or other SEC disclosure requirements;
- are outdated due to the passage of time or changes in the regulatory, business or technological environment; and
- have been superseded because they are inconsistent with recent legislation or more recently updated GAAP or SEC disclosure requirements.
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