The Securities and Exchange Commission is getting back to basics as it considers an update to financial reporting rules, the Wall Street Journal reported today. The Commission on Wednesday issued a “concept release” outlining some of the questions it is considering as part of a disclosure rules review. The release runs 340-pages and considers some fundamentals as it begins a months-long process to potentially update the rules. The SEC in December 2013 recommended a “comprehensive evaluation” of rules that govern how much and what type of information companies must disclose in their annual and quarterly reports. SEC Chairwoman Mary Jo White said in a statement Wednesday that the commission is trying to balance competing interests of investors who “want more, not less, information” and those of companies who complain about “requiring unnecessary, immaterial disclosures.”
