SEC Adopts Amendments to Modernize and Simplify Disclosure for Investment Companies and Investment Advisers

April 8, 2019

On March 20, 2019, the Securities and Exchange Commission (“SEC”) adopted amendments to modernize and simplify certain disclosure requirements in Regulation S-K and related rules and forms, as mandated by the 2015 Fixing America’s Surface Transportation Act.

The amendments are intended to improve the readability and navigability of disclosure documents and discourage repetition and disclosure of immaterial information. The SEC adopted parallel amendments to several rules and forms applicable to investment companies and investment advisers to provide for a consistent set of rules governing incorporation by reference and hyperlinking, including amendments that would require certain investment company filings to be submitted in HyperText Markup Language beginning April 1, 2020.

Seward & Kissel has recently prepared a memorandum “SEC Adopts Amendments to Modernize and Simplify Disclosure for Investment Companies and Investment Advisers” that discusses the amendments in greater detail.


Categories

Compliance, Investment Advisers, Investment Companies, Mutual Funds, Regulatory