SEC Publishes Final Rule on MD&A in Federal Register

The SEC has published a final rule, Management’s Discussion and Analysis, Selected Financial Data, and Supplementary Financial Information, in the Federal Register.

The final rule, issued by the SEC on November 19, 2020, modernizes and simplifies MD&A and related financial disclosure requirements.

The final rule will become effective on February 10, 2021, and must be adopted in annual reports for fiscal years ending on or after August 9, 2021. Early application is permitted for filings after the effective date. For more information on the final rule, see Deloitte’s November 24, 2020, Heads Up.