SEC Amends Disclosure Guidance on Options Related to Expiring Confidential Treatment Orders

The SEC’s Division of Corporation Finance has amended CF Disclosure Guidance: Topic No. 7, Confidential Treatment Application Submitted Pursuant to Rules 406 and 24b-2. The guidance has been amended to give companies that previously obtained a confidential treatment order three choices for how to handle the order that is about to expire. Those choices are to (1) refile the unredacted exhibit, (2) extend the confidential period in accordance with Rule 406 of the Securities Act or Rule 24b-2 of the Exchange Act, or (3) transition to the rules governing the filing of redacted exhibits under Regulation S-K, Item 601(b)(10)(iv), and parallel rules.