Feb. 28, 2023
February 28, 2023 As a household investor, I fully support the SEC's proposed rule change 34-96495, which aims to update and improve the disclosure requirements for financial statements and related disclosures. The proposed rule would require public companies to provide more detailed and relevant information in their financial statements and related disclosures, such as footnotes and management's discussion and analysis (MDA). This will provide investors with a better understanding of a company's financial position, performance, and risks, allowing them to make more informed investment decisions. Furthermore, the proposed rule would update and simplify the disclosure requirements for certain financial information, such as income taxes, and eliminate redundant and outdated disclosures. This will reduce the burden on companies while still providing investors with the information they need to make informed decisions. In addition, the proposed rule would require companies to disclose critical accounting estimates and judgments used in preparing their financial statements. This will help investors to better assess the quality and reliability of a company's financial information, as well as its potential risks and uncertainties. Overall, the proposed rule change would improve the transparency, consistency, and relevance of financial reporting, which is in the best interest of household investors. By providing more detailed and relevant information in financial statements and related disclosures, investors can make more informed decisions and better protect their investments. Therefore, I strongly urge the SEC to adopt this rule change for the benefit of all household investors.