Clifford Chance

SEC Adopts Amendments to Update and Simplify Its Disclosure Requirements – A Guide for Foreign Private Issuers

11 September 2018

The U.S. Securities and Exchange Commission (SEC) adopted a voluminous set of rule and form amendments in August 2018 to update and simplify certain of its disclosure requirements. These amendments will become effective 30 days after the final rules are published in the Federal Register. While the SEC intends for these amendments to simplify disclosure compliance, it does not expect they will significantly alter the total mix of information provided to investors.

This briefing identifies the amendments that we expect will impact forms filed with the SEC by foreign private issuers that report their financial results in accordance with International Financial Reporting Standards as issued by the International Accounting Standards Board (IFRS), such as annual reports on Form 20-F, long-form registration statements on Form F-1 as well as short-form registration statements Form F-3. Annex I to this briefing provides a chart that summarizes key amendments to SEC disclosure requirements relevant to foreign private issuers.

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