81 FR 66898 - Extension of Comment Period for Disclosure Update and Simplification
SECURITIES AND EXCHANGE COMMISSION Federal Register Volume 81, Issue 189 (September 29, 2016)
Federal Register Volume 81, Issue 189 (September 29, 2016)
| Page Range | 66898-66899 | |
| FR Document | 2016-23489 |
[Federal Register Volume 81, Number 189 (Thursday, September 29, 2016)] [Proposed Rules] [Pages 66898-66899] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2016-23489] ======================================================================= ----------------------------------------------------------------------- SECURITIES AND EXCHANGE COMMISSION 17 CFR Parts 210, 229, 230, 239, 240, 249, and 274 [Release No. 33-10220; 34-78926; IC-32281; File No. S7-15-16] RIN 3235-AL82 Extension of Comment Period for Disclosure Update and Simplification AGENCY: Securities and Exchange Commission. ACTION: Extension of comment period. ----------------------------------------------------------------------- SUMMARY: The Securities and Exchange Commission is extending the comment period for a proposal to amend certain of its disclosure requirements that may have become redundant, duplicative, overlapping, outdated, or superseded, in light of other Commission disclosure requirements, U.S. Generally Accepted Accounting Principles (``U.S. GAAP''), International Financial Reporting Standards (``IFRS''), or changes in the information environment [Release No. 33-10110; 34-78310; IC-32175; 81 FR 51607 (July 13, 2016)]. The release also solicits comment on certain Commission disclosure requirements that overlap with, but require information incremental to, U.S. GAAP to determine whether to retain, modify, eliminate, or refer them to the Financial Accounting Standards Board for potential incorporation into U.S. GAAP. The original comment period is scheduled to end on October 3, 2016. The Commission is extending the time period in which to provide the Commission with comments until November 2, 2016. This action will allow interested persons additional time to analyze the issues and prepare their comments. DATES: Comments should be received on or before November 2, 2016. [[Page 66899]] ADDRESSES: Comments may be submitted by any of the following methods: Electronic CommentsUse the Commission's Internet comment forms (http://www.sec.gov/rules/proposed.shtml); Send an email to [email protected]. Please include File Number S7-15-16 on the subject line; or Use the Federal Rulemaking Portal (http://www.regulations.gov). Follow the instructions for submitting comments. Paper Comments Send paper comments to Brent J. Fields, Secretary, Securities and Exchange Commission, 100 F Street NE., Washington, DC 20549-1090. All submissions should refer to File Number S7-15-16. This file number should be included on the subject line if email is used. To help us process and review your comments more efficiently, please use only one method. The Commission will post all comments on the Commission's Internet Web site (http://www.sec.gov/rules/proposed.shtml). Comments also are available for Web site viewing and printing in the Commission's Public Reference Room, 100 F Street NE., Washington, DC 20549, on official business days between the hours of 10:00 a.m. and 3:00 p.m. All comments received will be posted without change; we do not edit personal identifying information from submissions. You should submit only information that you wish to make available publicly. Studies, memoranda or other substantive items may be added by the Commission or staff to the comment file during this rulemaking. A notification of the inclusion in the comment file of any such materials will be made available on the SEC's Web site. To ensure direct electronic receipt of such notifications, sign up through the ``Stay Connected'' option at www.sec.gov to receive notifications by email. FOR FURTHER INFORMATION CONTACT: Nili Shah, Deputy Chief Accountant, at (202) 551-3255, Division of Corporation Finance; Duc Dang, Senior Special Counsel, at (202) 551-3386, Office of the Chief Accountant; Matt Giordano, Chief Accountant, at (202) 551-6918, Division of Investment Management; Valentina Minak Deng, Special Counsel, at (202) 551-5778 and Tim White, Special Counsel, at (202) 551-5777, Division of Trading and Markets; Harriet Orol, Branch Chief, at (212) 336-0554, Office of Credit Ratings; Securities and Exchange Commission, 100 F Street NE., Washington, DC 20549. SUPPLEMENTARY INFORMATION: The Commission has requested comment on a release proposing amendments to certain of its disclosure requirements that may have become redundant, duplicative, overlapping, outdated, or superseded, in light of other Commission disclosure requirements, U.S. GAAP, IFRS, or changes in the information environment. The release also solicited comment on certain disclosure requirements that overlap with, but require information incremental to, U.S. GAAP to determine whether to retain, modify, eliminate, or refer them to the Financial Accounting Standards Board (``FASB'') for potential incorporation into U.S. GAAP.\1\ The proposed amendments are intended to facilitate the disclosure of information to investors, while simplifying compliance efforts, without significantly altering the total mix of information provided to investors. --------------------------------------------------------------------------- \1\ Specifically, the Commission proposed amendments to, or solicited comment on potential FASB referrals of, Rules 1-02, 2-01, 2-02, 3-01, 3-02, 3-03, 3-04, 3-05, 3-12, 3-14, 3-15, 3-17, 3-20, 3A-01, 3A-02, 3A-03, 3A-04, 4-01, 4-07, 4-08, 4-10, 5-02, 5-03, 5- 04, 6-03, 6-04, 6-07, 6-09, 6A-04, 6A-05, 7-02, 7-03, 7-04, 7-05, 8- 01, 8-02, 8-03, 8-04, 8-05, 8-06, 9-03, 9-04, 9-05, 9-06, 10-01, 11- 02, 11-03, 12-16, 12-17, 12-18, 12-28, and 12-29 of Regulation S-X under the Securities Act of 1933 (the ``Securities Act'') and the Securities Exchange Act of 1934 (the ``Exchange Act''), Items 10, 101, 103, 201, 302, 303, 503, 512, and 601 of Regulation S-K under the Securities Act and the Exchange Act, Item 1010 of Regulation M-A under the Securities Act and the Exchange Act, and Item 1118 of Regulation AB under the Securities Act and the Exchange Act, Rule 158 of the Securities Act, Rules 405 and 436 of Regulation C under the Securities Act, Forms S-1, S-3, S-11, S-4, F-1, F-3, F-4, F-6, F-7, F-8, F-10, F-80, SF-1, SF-3, 1-A, 1-K, and 1-SA under the Securities Act, Rules 3a51-1, 10A-1, 12b-2, 13a-10, 13b2-2, 14a-101, 15c3-1g, 15d-2, 15d-10, 17a-5, 17a-12, 17g-3, and 17h-1T of the Exchange Act, Forms 20-F, 40-F, 10-K, 11-K, 10-D, and X-17A-5 under the Exchange Act, Forms N-5, N-1A, N-2, N-3, N-4, and N-6 under the Securities Act and the Investment Company Act of 1940 (the ``Investment Company Act''), and Form N-8B-2 under the Investment Company Act. --------------------------------------------------------------------------- The Commission originally requested that comments on the release be received by October 3, 2016. The Commission has received several requests for an extension of time for public comment on the proposal to, among other things, allow for adequate time to fully consider the proposals and to improve the quality of responses.\2\ The Commission believes that providing the public additional time to consider thoroughly the matters addressed by the release and to submit comprehensive responses to the release would benefit the Commission in its consideration of final rules. Therefore, the Commission is extending the comment period for Release No. 33-10110; 34-78310; IC- 32175 ``Disclosure Update and Simplification'' until November 2, 2016. --------------------------------------------------------------------------- \2\ See Letters from Center for Audit Quality (Aug. 4, 2016), American Gas Association Accounting Advisory Council (Aug. 24, 2016), Edison Electric Institute (Aug. 24, 2016) and the National Association of Real Estate Investment Trusts (Sept. 9, 2016). Comments are available on the Commission's Web site at https://www.sec.gov/comments/s7-15-16/s71516.htm. --------------------------------------------------------------------------- By the Commission. Dated: September 23, 2016. Brent J. Fields, Secretary. [FR Doc. 2016-23489 Filed 9-28-16; 8:45 am] BILLING CODE 8011-01-P
![Federal Register / Vol. 81, No. 189 / Thursday, September 29, 2016 / Proposed Rules 66899
ADDRESSES: Comments may be SUPPLEMENTARY INFORMATION: The release and to submit comprehensive
submitted by any of the following Commission has requested comment on responses to the release would benefit
methods: a release proposing amendments to the Commission in its consideration of
certain of its disclosure requirements final rules. Therefore, the Commission
Electronic Comments
that may have become redundant, is extending the comment period for
• Use the Commission’s Internet duplicative, overlapping, outdated, or Release No. 33–10110; 34–78310; IC–
comment forms (http://www.sec.gov/ superseded, in light of other 32175 ‘‘Disclosure Update and
rules/proposed.shtml); Commission disclosure requirements, Simplification’’ until November 2, 2016.
• Send an email to rule-comments@ U.S. GAAP, IFRS, or changes in the By the Commission.
sec.gov. Please include File Number S7– information environment. The release
Dated: September 23, 2016.
15–16 on the subject line; or also solicited comment on certain
• Use the Federal Rulemaking Portal disclosure requirements that overlap Brent J. Fields,
(http://www.regulations.gov). Follow the with, but require information Secretary.
instructions for submitting comments. incremental to, U.S. GAAP to determine [FR Doc. 2016–23489 Filed 9–28–16; 8:45 am]
whether to retain, modify, eliminate, or BILLING CODE 8011–01–P
Paper Comments refer them to the Financial Accounting
• Send paper comments to Brent J. Standards Board (‘‘FASB’’) for potential
Fields, Secretary, Securities and incorporation into U.S. GAAP.1 The ENVIRONMENTAL PROTECTION
Exchange Commission, 100 F Street NE., proposed amendments are intended to AGENCY
Washington, DC 20549–1090. facilitate the disclosure of information
All submissions should refer to File to investors, while simplifying 40 CFR Part 52
Number S7–15–16. This file number compliance efforts, without significantly
should be included on the subject line altering the total mix of information [EPA–R10–OAR–2016–0493: FRL–9953–03–
if email is used. To help us process and provided to investors. Region 10]
review your comments more efficiently, The Commission originally requested
that comments on the release be Approval and Promulgation of
please use only one method. The
received by October 3, 2016. The Implementation Plans; Washington:
Commission will post all comments on
Commission has received several General Regulations for Air Pollution
the Commission’s Internet Web site
requests for an extension of time for Sources
(http://www.sec.gov/rules/
proposed.shtml). Comments also are public comment on the proposal to, AGENCY: Environmental Protection
available for Web site viewing and among other things, allow for adequate Agency (EPA).
printing in the Commission’s Public time to fully consider the proposals and
ACTION: Proposed rule.
Reference Room, 100 F Street NE., to improve the quality of responses.2
Washington, DC 20549, on official The Commission believes that providing SUMMARY: In reviewing past State
business days between the hours of the public additional time to consider Implementation Plan (SIP) actions, the
10:00 a.m. and 3:00 p.m. All comments thoroughly the matters addressed by the Washington Department of Ecology
received will be posted without change; (Ecology) and the Environmental
1 Specifically, the Commission proposed
we do not edit personal identifying Protection Agency (EPA) discovered
amendments to, or solicited comment on potential
information from submissions. You FASB referrals of, Rules 1–02, 2–01, 2–02, 3–01, 3– minor typographical errors related to the
should submit only information that 02, 3–03, 3–04, 3–05, 3–12, 3–14, 3–15, 3–17, 3–20, EPA’s previous approvals of Chapter
you wish to make available publicly. 3A–01, 3A–02, 3A–03, 3A–04, 4–01, 4–07, 4–08, 4– 173–400 Washington Administrative
Studies, memoranda or other 10, 5–02, 5–03, 5–04, 6–03, 6–04, 6–07, 6–09, 6A– Code, General Regulations for Air
04, 6A–05, 7–02, 7–03, 7–04, 7–05, 8–01, 8–02, 8–
substantive items may be added by the 03, 8–04, 8–05, 8–06, 9–03, 9–04, 9–05, 9–06, 10– Pollution Sources. The EPA is proposing
Commission or staff to the comment file 01, 11–02, 11–03, 12–16, 12–17, 12–18, 12–28, and to correct these errors. The proposed
during this rulemaking. A notification of 12–29 of Regulation S–X under the Securities Act corrections make no substantive
the inclusion in the comment file of any of 1933 (the ‘‘Securities Act’’) and the Securities changes to the SIP and impose no new
Exchange Act of 1934 (the ‘‘Exchange Act’’), Items
such materials will be made available 10, 101, 103, 201, 302, 303, 503, 512, and 601 of requirements. In the Final Rules section
on the SEC’s Web site. To ensure direct Regulation S–K under the Securities Act and the of this Federal Register, the EPA is
electronic receipt of such notifications, Exchange Act, Item 1010 of Regulation M–A under approving these corrections as a direct
sign up through the ‘‘Stay Connected’’ the Securities Act and the Exchange Act, and Item final rule without prior proposal
1118 of Regulation AB under the Securities Act and
option at www.sec.gov to receive the Exchange Act, Rule 158 of the Securities Act, because the Agency views this as a
notifications by email. Rules 405 and 436 of Regulation C under the noncontroversial action and anticipates
FOR FURTHER INFORMATION CONTACT: Nili Securities Act, Forms S–1, S–3, S–11, S–4, F–1, F– no adverse comments. A detailed
3, F–4, F–6, F–7, F–8, F–10, F–80, SF–1, SF–3, 1– rationale for the approval is set forth in
Shah, Deputy Chief Accountant, at (202) A, 1–K, and 1–SA under the Securities Act, Rules
551–3255, Division of Corporation 3a51–1, 10A–1, 12b-2, 13a-10, 13b2–2, 14a-101, the direct final rule. If no adverse
Finance; Duc Dang, Senior Special 15c3–1g, 15d-2, 15d-10, 17a-5, 17a-12, 17g-3, and comments are received in response to
Counsel, at (202) 551–3386, Office of the 17h-1T of the Exchange Act, Forms 20–F, 40–F, 10– this action, no further activity is
K, 11–K, 10–D, and X–17A–5 under the Exchange contemplated. If the EPA receives
Chief Accountant; Matt Giordano, Chief Act, Forms N–5, N–1A, N–2, N–3, N–4, and N–6
Accountant, at (202) 551–6918, Division adverse comments, the direct final rule
asabaliauskas on DSK3SPTVN1PROD with PROPOSALS
under the Securities Act and the Investment
of Investment Management; Valentina Company Act of 1940 (the ‘‘Investment Company will be withdrawn and all public
Minak Deng, Special Counsel, at (202) Act’’), and Form N–8B–2 under the Investment comments received will be addressed in
Company Act. a subsequent final rule based on this
551–5778 and Tim White, Special 2 See Letters from Center for Audit Quality (Aug.
Counsel, at (202) 551–5777, Division of 4, 2016), American Gas Association Accounting
proposed rule. The EPA will not
Trading and Markets; Harriet Orol, Advisory Council (Aug. 24, 2016), Edison Electric institute a second comment period. Any
Branch Chief, at (212) 336–0554, Office Institute (Aug. 24, 2016) and the National parties interested in commenting on this
Association of Real Estate Investment Trusts (Sept. action should do so at this time.
of Credit Ratings; Securities and 9, 2016). Comments are available on the
Exchange Commission, 100 F Street NE., Commission’s Web site at https://www.sec.gov/ DATES: Comments must be received on
Washington, DC 20549. comments/s7-15-16/s71516.htm. or before October 31, 2016.
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Document Created: 2016-09-29 04:14:51
Document Modified: 2016-09-29 04:14:51
| Category | Regulatory Information | |
| Collection | Federal Register | |
| sudoc Class | AE 2.7: GS 4.107: AE 2.106: | |
| Publisher | Office of the Federal Register, National Archives and Records Administration | |
| Section | Proposed Rules | |
| Action | Extension of comment period. | |
| Dates | Comments should be received on or before November 2, 2016. | |
| Contact | Nili Shah, Deputy Chief Accountant, at (202) 551-3255, Division of Corporation Finance; Duc Dang, Senior Special Counsel, at (202) 551-3386, Office of the Chief Accountant; Matt Giordano, Chief Accountant, at (202) 551-6918, Division of Investment Management; Valentina Minak Deng, Special Counsel, at (202) 551-5778 and Tim White, Special Counsel, at (202) 551-5777, Division of Trading and Markets; Harriet Orol, Branch Chief, at (212) 336-0554, Office of Credit Ratings; Securities and Exchange Commission, 100 F Street NE., Washington, DC 20549. | |
| FR Citation | 81 FR 66898 | |
| RIN Number | 3235-AL82 | |
| CFR Citation | 17
CFR
210 17 CFR 229 17 CFR 230 17 CFR 239 17 CFR 240 17 CFR 249 17 CFR 274 |
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