The Securities and Exchange Commission attracted a wide variety of reactions to its latest step in an ongoing review of the effectiveness of its disclosure rules.
The agency received more than 300 unique comments on Regulation S-K, a broad regime governing disclosures that aren’t financial statements See previous story, 04/14/16.
Principles-Based.
Industry commentary mirrored feedback on other rule proposals. Many stakeholders warned of the compliance costs of regulations they deem overly prescriptive or “one-size-fits-all,” especially when compared to “principles-based” initiatives that bring more flexibility.
The latter approach was generally favored in comments by the Securities Industry and Financial Markets Association, Financial ...
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