{"abstract":"We are adopting amendments to modernize, simplify, and enhance certain financial disclosure requirements in Regulation S-K. Specifically, we are eliminating the requirement for Selected Financial Data, streamlining the requirement to disclose Supplementary Financial Information, and amending Management's Discussion & Analysis of Financial Condition and Results of Operations (\"MD&A\"). These amendments are intended to eliminate duplicative disclosures and modernize and enhance MD&A disclosures for the benefit of investors, while simplifying compliance efforts for registrants.","action":"Final rule.","agencies":[{"raw_name":"SECURITIES AND EXCHANGE COMMISSION","name":"Securities and Exchange Commission","id":466,"url":"https://www.federalregister.gov/agencies/securities-and-exchange-commission","json_url":"https://www.federalregister.gov/api/v1/agencies/466","parent_id":null,"slug":"securities-and-exchange-commission"}],"body_html_url":"https://www.federalregister.gov/documents/full_text/html/2021/01/11/2020-26090.html","cfr_references":[{"chapter":null,"citation_url":null,"part":210,"title":17},{"chapter":null,"citation_url":null,"part":229,"title":17},{"chapter":null,"citation_url":null,"part":230,"title":17},{"chapter":null,"citation_url":null,"part":239,"title":17},{"chapter":null,"citation_url":null,"part":240,"title":17},{"chapter":null,"citation_url":null,"part":249,"title":17}],"citation":"86 FR 2080","comment_url":null,"comments_close_on":null,"correction_of":null,"corrections":[],"dates":"Effective date: The final rules are effective February 10, 2021.","disposition_notes":null,"docket_ids":["Release No. 33-10890","34-90459","IC-34100","File No. S7-01-20"],"dockets":[],"document_number":"2020-26090","effective_on":"2021-02-10","end_page":2134,"executive_order_notes":null,"executive_order_number":null,"explanation":null,"full_text_xml_url":"https://www.federalregister.gov/documents/full_text/xml/2021/01/11/2020-26090.xml","html_url":"https://www.federalregister.gov/documents/2021/01/11/2020-26090/managements-discussion-and-analysis-selected-financial-data-and-supplementary-financial-information","images":{},"images_metadata":{},"json_url":"https://www.federalregister.gov/api/v1/documents/2020-26090?publication_date=2021-01-11","mods_url":"https://www.govinfo.gov/metadata/granule/FR-2021-01-11/2020-26090/mods.xml","not_received_for_publication":null,"page_length":55,"page_views":{"count":8625,"last_updated":"2026-04-04 18:15:03 -0400"},"pdf_url":"https://www.govinfo.gov/content/pkg/FR-2021-01-11/pdf/2020-26090.pdf","presidential_document_number":null,"proclamation_number":null,"public_inspection_pdf_url":"https://public-inspection.federalregister.gov/2020-26090.pdf?1610113517","publication_date":"2021-01-11","raw_text_url":"https://www.federalregister.gov/documents/full_text/text/2021/01/11/2020-26090.txt","regulation_id_number_info":{"3235-AM48":{"issue":"202010","html_url":"https://www.federalregister.gov/regulations/3235-AM48/modernization-and-simplification-of-disclosures-regarding-mdanda-selected-financial-data-and-supplem","title":"Modernization and Simplification of Disclosures Regarding MD&A, Selected Financial Data and Supplementary Financial Information","xml_url":"http://www.reginfo.gov/public/do/eAgendaViewRule?pubId=202010&RIN=3235-AM48&operation=OPERATION_EXPORT_XML","priority_category":"Substantive, Nonsignificant"}},"regulation_id_numbers":["3235-AM48"],"regulations_dot_gov_info":{"comments_count":0,"agency_id":"SEC","document_id":"SEC-2021-0044-0001","checked_regulationsdotgov_at":"2021-01-13T04:30:12Z"},"regulations_dot_gov_url":null,"significant":false,"signing_date":null,"start_page":2080,"subtype":null,"title":"Management's Discussion and Analysis, Selected Financial Data, and Supplementary Financial Information","toc_doc":"Management's Discussion and Analysis, Selected Financial Data, and Supplementary Financial Information","toc_subject":null,"topics":["Accountants","Accounting","Administrative practice and procedure","Banks, banking","Banks, banking","Banks, banking","Banks, banking","Employee benefit plans","Holding companies","Insurance companies","Investment companies","Oil and gas exploration","Reporting and recordkeeping requirements","Securities","Utilities"],"type":"Rule","volume":86}