FAST Act of 2015
What is the FAST Act of 2015?
Effective May 2, 2019, the SEC finalized the amendments to the rule on FAST Act Simplification and Modernization of Regulation S-K, which includes the requirement for registrants to:
- Expand hyperlinking to documents incorporated by reference.
- Add a new table to Forms 8-K and 10-Q cover pages, and the trading symbol to 10-K, and annual report on Form 20-F and 40-F.
- Tag all cover page data on all Form 8-K, 10-Q and 10-K, and annual report on Form 20-F and 40-F in Inline XBRL (iXBRL).
The amendments are designed to:
- Streamline repetitive disclosure
- Improve readability
- Make disclosure more interactive and easier to navigate by requiring tagging and hyperlinks
The updates are another demonstration of the ongoing commitment by the SEC to further enhance investors’ use of structured data to identify, count, sort, compare, and analyze registrants and their disclosures.