Beginning in May, the SEC issued a flurry of proposed reforms that could drastically change both the type of information organizations are required to report and the cadence in which they’re required to report it. As a refresher—and nobody would blame you for needing it—here’s a recap of some major SEC proposals: The commission proposed an option for public firms to switch from quarterly to semiannual reporting. It then proposed paring down filer statuses to just two and a related loosening of disclosure requirements for many filers. And it commenced a formal end to climate-related disclosure reporting rules. In a statement from May issued on the SEC website, Chair Paul Atkins wrote, “The current public company regulatory framework is in dire need of a comprehensive overhaul,” and that the last quarter century of rulemaking has created “complex, overlapping requirements and benefits.” Of course, the proposals are just that at the moment, no matter how inevitable some may seem (one expert CFO spoke with earlier this year called the climate rule rescission “a foregone conclusion”). Organizations need to follow “the rules as they currently exist,” David Peavler, a former enforcement attorney at the SEC and partner at law firm Jones Day, wrote in an email to CFO Brew. Keep reading for more on how companies are charting a course through all this.—AZ |