I, along with Delta Air Lines Assistant General Counsel Stephanie Bignon, recently authored an article for Corporate Compliance Insights addressing the latest developments impacting SEC periodic reporting disclosure practices.
“Public companies have been monitoring and rapidly adapting to a wide array of developments impacting periodic reporting disclosure practices over the last year,” we wrote in the article.
In addition to various SEC rules changes that have been adopted over the last year, we provided an extensive overview of four key areas which are anticipated to impact periodic reporting for the remainder of 2021:
- Continuing Evolution of COVID-19
Public companies have been including a dedicated COVID-19 discussion as a lead-in section to their MD&A, which is likely to continue – although the lengths of these sections might be reduced as the pandemic wanes.
- ESG-Related Disclosures in Focus
Following the change in presidential administration, ESG-related disclosures will be an area of significantly increased focus by the SEC.
- Key Performance Indicators
Early 2020 guidance from the SEC reminded companies about the need to disclose key variables and factors that management uses to manage its business.
- Non-GAAP Financial Measures
Non-GAAP compliance remains a significant ongoing area of focus from the SEC.
For a more in-depth look at these four key areas, read the full article, “Periodic Reporting for Public Companies in 2021: What Lies Ahead,” that was published by Corporate Compliance Insights on April 14 and is available online.