SEC Rule Boosting 'Human Capital' Disclosure Draws Dissent

By Tom Zanki (August 26, 2020, 8:46 PM EDT) -- The U.S. Securities and Exchange Commission on Wednesday agreed to require that companies reveal more information regarding their workforces, though Democratic commissioners said the new disclosure policy lacked details and faulted proponents for not addressing diversity matters or climate-change risks.

The SEC approved the changes by a 3-2 vote as part of broader revisions to Regulation S-K, the body of rules that govern corporate disclosures outside of financial statements. The new 131-page rule, part of the SEC's ongoing disclosure simplification efforts, purportedly seeks to eliminate repetition and improve readability of company filings, while lowering costs on issuers.

The new policy also...

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