About
Foundational Principles In the Community Diversity, Equity & Inclusion Technical Excellence Alumni TIAG Membership
Careers
Why Cohen & Company Our Culture Total Rewards & Benefits Intern & Entry Level Opportunities Experienced Opportunities
Contact
Akron, OH Baltimore, MD Chicago, IL Cleveland, OH Detroit, MI Milwaukee, WI New York, NY Philadelphia, PA Pittsburgh, PA St. Clair Shores, MI Youngstown, OH
Client Portal
Services Industries Knowledge Center People

About Our Services

We offer tailored solutions — whether private company or owner; public or private fund, adviser or fund service provider; or Fortune 1000 enterprise. Learn how we can help you.

Learn More

Assurance Services

Employee Benefit Plan Audits Internal Controls Investment Company Audits Private Company Audits SOC Readiness & Compliance

Tax Services

Federal Tax Planning & Compliance High Net Worth & Wealth Transfer International Filings & Structuring Investment Company Tax State & Local Tax Tax Credits & Incentives Transaction Tax Planning

Advisory Services

Business Valuations Data & Insights Digital Finance Solutions IT Strategy & Implementation M&A Advisory Outsourced Accounting Solutions Risk Assurance & Advisory Transaction Services Turnaround & Restructuring

Our Industry Expertise

Our industry experience means you can find professionals who speak your language and bring earned insights to the table. Learn how we can help you.

Learn More

Key Industries

Digital Assets Investment Companies Manufacturing Private Companies Private Equity Real Estate & Construction Technology & Life Science
VIEW THE COMPLETE LIST

Knowledge Center

Our team wants to help your team stay up to date. Browse our thought leadership, events and news for insights and a point of view on business-critical topics.

Learn More

Insights

Browse valuable articles and publications our experts have written to help you and your organization answer key questions — and consider new ones.

Read Our Insights

Events

Join us in person and online for events that address timely topics and key business considerations.

Explore Our Events

News

Find out what is happening at Cohen & Company, from industry recognitions and growth updates, to where we are contributing to important media stories.

Read Our News
People
Foundational Principles In the Community Diversity, Equity & Inclusion Technical Excellence Alumni TIAG Membership
Why Cohen & Company Our Culture Total Rewards & Benefits Intern & Entry Level Opportunities Experienced Opportunities
Akron, OH Baltimore, MD Chicago, IL Cleveland, OH Detroit, MI Milwaukee, WI New York, NY Philadelphia, PA Pittsburgh, PA St. Clair Shores, MI Youngstown, OH
Client Portal
Back to Insights

SEC Adopts Amendments to Simplify and Update Disclosure Requirements

by Lori Novak

September 05, 2018 Mutual Funds

As part of its initiative to improve the information provided to shareholders through disclosure requirements, the Securities and Exchange Commission (SEC) voted on August 17 to adopt amendments simplifying the disclosure process for preparers, while retaining information that they believe is most useful for investors to make decisions. These amendments are intended to reduce the compliance burden for public companies without modifying the information available.  
 
Originally proposed in 2016, the amendments modify disclosure requirements in a number of SEC rules, including Regulations S-X, S-K, AB, the Exchange Act, and the Investment Company Act and target those deemed to be duplicative, overlapping or outdated.
 
The majority of the redundant or duplicative disclosures were contained in Regulation S-X, which mostly relates to requirements for the presentation of financial statements. Disclosure topics impacted include, but are not limited to, income taxes, derivatives, consolidation, segment reporting and earnings per share data. 
 
Modifications most impactful to the investment company industry include the long-awaited elimination of disclosing book-based components of distributable earnings on the statement of assets and liabilities, and the duplicative parenthetical presentation requirement of undistributed net investment income (loss) on the statement of changes. 
 
These amendments apply primarily to public reporting companies, including foreign private issuers.  Some of the amendments also apply to other entities regulated by the SEC, including Regulation A issuers, investment advisers, broker-dealers, and nationally recognized statistical rating organizations.
 
The amendments will be effective 30 days from publication in the Federal Register.
  
Please contact a member of your service team, or contact Lori Novak at lnovak@cohencpa.com for further discussion.
 
Cohen & Company is not rendering legal, accounting or other professional advice. Information contained in this post is considered accurate as of the date of publishing. Any action taken based on information in this blog should be taken only after a detailed review of the specific facts, circumstances and current law.
 
 

About the Authors

Lori Novak, CPA

Partner, Assurance
lnovak@cohencpa.com
216.649.5719

Sign Up for Our Emails & Events

Receive insights from our specialists in a variety of areas and timely information on upcoming events directly to your inbox as they go live in our online Knowledge Center.

Subscribe Today
Subscribe to our newsletter
About Contact Submit RFP Privacy Policy
LinkedIn Twitter Facebook
© 2023 Cohen & Company