The only 10-K disclosure related to human capital is number of employees. There is a proposal from the agency from the Human Capital Coalition looking for more required reporting on issues like pay disparity and culture.
SEC Commissioner Robert Jackson Jr. said this week at a conference cyber security is the number one issue boards must get a handle on right now. He specifically called for a change to 8K disclosures.
In a recent survey, 95 percent of finance firms based in the UK and U.S. say financial regulations will increase costs, and almost a quarter said they will spend more than 5 percent of their annual revenue on compliance by 2023.