Document ID: SEC-2020-1358-0001
Agency: sec
Document Type: Notice
Title: Meetings; Sunshine Act
Posted Date: 2020-08-24T04:00Z

[Federal Register Volume 85, Number 164 (Monday, August 24, 2020)]
[Notices]
[Page 52166]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-18612]

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SECURITIES AND EXCHANGE COMMISSION

Sunshine Act Meetings

TIME AND DATE: Notice is hereby given, pursuant to the provisions of 
the Government in the Sunshine Act, Public Law 94-409, the Securities 
and Exchange Commission will hold an Open Meeting on Wednesday, August 
26, 2020 at 10:00 a.m.

PLACE: The meeting will be held via remote means and/or at the 
Commission's headquarters, 100 F Street NE, Washington, DC 20549.

STATUS: This meeting will begin at 10:00 a.m. (ET) and will be open to 
the public via audio webcast only on the Commission's website at 
www.sec.gov.

MATTERS TO BE CONSIDERED: The subject matter of the open meeting will 
be the Commission's broader efforts to (1) modernize and improve the 
Commission's disclosure framework in light of the changes in our 
capital markets and domestic and global economy, and (2) simplify, 
harmonize, and improve the exempt offering framework under the 
Securities Act to promote capital formation and expand investment 
opportunities while maintaining and enhancing appropriate investor 
protections. The specific matters to be considered are:
    (1) Whether to adopt amendments to modernize the description of 
business, legal proceedings, and risk factor disclosures that 
registrants are required to make pursuant to Regulation S-K. These 
disclosure items, which have not undergone significant revisions in 
over 30 years, would be updated to account for developments since the 
rules' adoption or last revision, to improve disclosure for investors, 
and to simplify compliance for registrants. Specifically, the 
amendments are intended to improve the readability of disclosure 
documents, as well as discourage repetition and the disclosure of 
information that is not material.
    (2) whether to adopt amendments to the definition of ``accredited 
investor'' in Commission rules and the definition of ``qualified 
institutional buyer'' in Rule 144A under the Securities Act to update 
and improve the definition to identify more effectively investors that 
have sufficient financial sophistication to participate in certain 
private investment opportunities. The amendments are the product of 
years of efforts by the Commission and its staff to consider and 
analyze possible approaches to revising the accredited investor 
definition.

CONTACT PERSON FOR MORE INFORMATION: For further information and to 
ascertain what, if any, matters have been added, deleted or postponed, 
please contact Vanessa A. Countryman, Office of the Secretary, at (202) 
551-5400.

    Dated: August 19, 2020.
Eduardo A. Aleman,
Deputy Secretary.
[FR Doc. 2020-18612 Filed 8-20-20; 11:15 am]
BILLING CODE 8011-01-P