On August 25, 2016, the Securities and Exchange Commission (SEC) announced that it is seeking public comment on Subpart 400 of Regulation S-K, which requires certain disclosures about an issuer’s management, certain security holders and corporate governance matters. The request is part of the SEC staff ’s Disclosure Effectiveness Initiative, a comprehensive evaluation of the SEC disclosure regime intended to modernize and simplify requirements for the benefit of investors and issuers.