SEC Requests Comments on Adopted Interim Final Amendment to Form 10-K Filing Requirements (Fed. Reg.)

The SEC requested comments on an adopted interim final amendment requiring companies filing their Form 10-K to provide the summaries of business and financial information that are contained in their annual reports to security holders. The interim final amendment became a final rule on June 9, 2016. The request for comments was published in the Federal Register. The interim final amendment implements Section 72001 of the Fixing America's Surface Transportation Act.

The amendment requires that each summary must include a hyperlink to the material contained in the Form 10-K to which it relates, including a link to materials that are contained in any exhibits attached to the form. The SEC noted that the interim final rule will not require registrants to update their summaries to reflect information required by Part III of Form 10-K, but instead will make the incorporation by reference of proxies or information statements filed after the Form 10-K optional for registrants. The SEC stated that registrants must stipulate in their summaries that Part III information is disincluded if that information will be incorporated by reference in proxies filed later or information statements involving the election of directors.

The interim final amendment is effective immediately. Comments on the interim final amendment must be submitted by July 11, 2016.