SEC Moves Toward Principles-Based Disclosure in Proposed Amendments to Disclosure Rules

​Continuing its move toward more principles-based disclosure and away from line-item requirements, the SEC has proposed amendments to its disclosure requirements that would eliminate the following disclosure requirements: Item 301(Selected financial data); Item 302 (Supplementary financial information), Item 303(a)(4) (Off-balance sheet arrangements), and Item 303(a)(5) (Tabular disclosure of contractual obligations). The proposed amendments would add to the S