The Security and Exchange Commission has been engaged in a broad-based review, known as the Disclosure Effectiveness Initiative, in which SEC staff has been assessing SEC disclosure requirements as well as the presentation and delivery of disclosures.
In this vein, the SEC has requested public comment on the effectiveness of portions of Regulation S-X, in particular Rule 3-05, Rule 3-09, Rule 3-10, and Rule 3-16, which concern the form and content of financial disclosures companies must make about businesses acquired or to be acquired, unconsolidated subsidiaries and 50 percent or less owned persons accounted for using the equity method, guarantors and issuers of guaranteed securities, and affiliates whose securities collateralize an issue registered or being registered.
The request for comment is contained in SEC Release No. 33-9929, which has detailed information about the exact questions the SEC is seeking the public to address.
Comments to the SEC are due November 30, 2015. Comments that have already been received by the SEC are available here: http://www.sec.gov/comments/s7-20-15/s72015.shtml.
Sources:
http://www.sec.gov/rules/other/2015/33-9929.pdf
http://www.sec.gov/spotlight/disclosure-effectiveness.shtml
