62 FR 3152
Plain English Disclosure
Overview
We are adopting the plain English rule with some changes based on the comments we received and the lessons we learned from the plain English pilot participants. The rule requires issuers to write the cover page, summary, and risk factors section of prospectuses in plain English. We are changing the existing requirements for these sections to the extent they conflict with the plain English rule. We are also giving issuers more specific guidance on how to make the entire prospectus clear, concise, and understandable. We believe that using plain English in prospectuses will lead to a better informed securities market--a market in which investors can more easily understand the disclosure required by the federal securities laws.
Prior Actions
Last Reviewed or Updated: April 7, 2023
Resources
Details
Oct. 1, 1998
63 FR 6370
Additional materials are available for this release: Appendix A , Appendix B , and the Plain English Handbook