SEC Amends Form 10-K to Make Annual Reports User Friendly

The Securities and Exchange Commission (“SEC”) recently issued an interim rule that amends the Form 10-K; a form certain publicly traded companies annually file to give a complete review of the company’s business and its overall financial condition. The rule allows the registrant to include an optional summary page of the information that the form requires. Each item in the summary must include a hyperlink to a more detailed explanation in the filing.

The amendment is pursuant to the Fixing America’s Surface Transportation Act (“FAST Act”), which was signed into law in December 2015. The FAST Act requires the SEC to take various steps to simplify and modernize certain disclosure requirements. The amendment is effective as of June 1, 2016.

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