Jay Clayton

Some leading organizations are taking the SEC’s cue and tightening up their filings to provide stakeholders with better clarity, focus and insight.

President Biden has picked Allison Herren Lee, a member of the Securities and Exchange Commission, as the acting chair of the SEC, as nominee Gary Gensler waits in the wings as a more permanent chair once he is confirmed by the Senate.

Commissioner Elad Roisman will step into the position Jay Clayton vacated last week.

The Securities and Exchange Commission voted to amend the disclosure requirements in the Management’s Discussion and Analysis portion of financial reports.

Jay Clayton, who has led the U.S. Securities and Exchange Commission for most of President Donald Trump’s term in office, said in a statement Monday that he will step down at the end of the year.

The commission has been busy helping public companies report the impact of COVID-19.

The Securities and Exchange Commission voted to adopt amendments to its longstanding auditor independence requirements, relaxing restrictions on relationships between auditors and their clients as part of a deregulatory push by the SEC in recent years.

James Kaiser, a member of the Public Company Accounting Oversight Board since 2018, is leaving the PCAOB and will be replaced by chief auditor Megan Zietsman in another sign of turmoil at the audit overseer.

Regulators are making it harder for small-time shareholders to put forth proposals aimed at cracking down on excessive pay, climate change and other corporate governance concerns.

The changes represent probably the biggest overhaul of Regulation S-K disclosures in more than three decades.