2023 SEC Reporting Insights

In 2023, the SEC issued several new rules under Chair Gary Gensler’s agenda, but the highly anticipated final climate change disclosure rules have not yet been issued as of the date of this publication. However, the SEC adopted several other rules that will be newly effective in 2023, including the disclosure rules related to cybersecurity, insider trading, share repurchases, and the recovery of erroneously awarded compensation, among others. The new rules demonstrate the SEC’s continued focus on highly prescriptive rules intended to enhance comparability across registrants and provide information to investors.

Registrants’ reporting practices continue to evolve in response to rules on the SEC’s agenda and the economy. Registrants are monitoring activities and considering disclosures on environmental, social, and governance (ESG) issues, particularly climate change matters, in response to the SEC’s proposal in 2022, SEC staff comment letters, and investor demands. Moreover, the volatile macroeconomic environment, including higher interest rates, inflation, and geopolitical conflict, continues to affect disclosures. Registrants also should consider staff comments and guidance in the form of sample comment letters and compliance and disclosure interpretations (C&DIs). 

2023 SEC Reporting Reminders

• Cybersecurity Disclosure Rules
• Recovery of Erroneously Awarded Compensation 
• Macroeconomic Conditions
• Non- GAAP Financial Measures
• Select Staff Comment Letter Topics

Commission and Staff Activities

• Final Rules
• Staff Guidance

Our publication provides some key disclosure and reporting reminders for upcoming filings and summarizes the SEC’s rulemaking and other activities that affect financial reporting.