SEC Updates Compliance and Disclosure Interpretations

The SEC has updated its compliance and disclosure interpretations related to the following topics:

• Securities Act rules — New questions in Section 271 related to Rule 701, “Exemption for Offers and Sales of Securities Pursuant to Certain Compensatory Benefit Plans and Contracts Relating to Compensation”; revised Question 203.03 related to Rule 404, “Definition of Terms.”
• Securities Act forms — New Question 101.06 related to Section 101, “Securities Act Forms Generally.”
• Regulation S-K — New Question 102.06 related to Item 10, “General.”