On August 25, the Securities and Exchange Commission announced that it is seeking public comment on the issues that the staff should consider in connection with its review of disclosure requirements under Subpart 400 of Regulation S-K.

As noted in the December 11, 2015 edition of the Corporate & Financial Weekly Digest, the Fixing America’s Surface Transportation Act (FAST Act) requires, among other things, that the SEC conduct a study to determine how best to modernize and simplify the disclosure requirements contained in Regulation S-K in a manner that reduces the costs and burdens on issuers while still providing all material information. Responses received to the request for comment will inform the SEC in connection with its preparation of the study required by the FAST Act.

Among other things, Subpart 400 of Regulation S-K requires disclosure regarding an issuer’s directors and officers, executive compensation, security ownership of certain beneficial owners and management, related party transactions and corporate governance.

The public comment period will remain open for 60 days following the publication of the comment request in the Federal Register.

The SEC’s announcement is available here.