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The U.S. Securities and Exchange Commission (SEC) is proposing reforms to streamline companies’ financial disclosure requirements.

The regulator unveiled a set of proposals that, it said, are designed to modernize and simplify disclosure requirements by eliminating sources of duplication and enhancing the management’s discussion and analysis (MD&A) disclosures.

It also issued new guidance on key performance metrics that firms use in their MD&A.

The SEC said that the changes are intended to improve disclosure for investors by focusing on material information and simplifying compliance for companies.

“The improved disclosures would allow investors to make better capital allocation decisions, while reducing compliance burdens and costs without in any way adversely affecting investor protection,” said SEC chairman Jay Clayton.

The proposals will go out for a 60-day public comment period.