The Harvard Law School Forum on Corporate Governance https://corpgov.law.harvard.edu The leading online blog in the fields of corporate governance and financial regulation. Tue, 28 Jul 2026 11:32:59 +0000 en-US hourly 1 https://wordpress.org/?v=6.5.8 https://corpgov.law.harvard.edu/wp-content/uploads/2024/02/cropped-photography-4-e1706898544564-1-32x32.png Human Capital Disclosures Findings From 2020 10-Ks – The Harvard Law School Forum on Corporate Governance https://corpgov.law.harvard.edu 32 32 Human Capital Disclosures Findings From 2020 10-Ks https://corpgov.law.harvard.edu/2021/05/25/human-capital-disclosures-findings-from-2020-10-ks/?utm_source=rss&utm_medium=rss&utm_campaign=human-capital-disclosures-findings-from-2020-10-ks https://corpgov.law.harvard.edu/2021/05/25/human-capital-disclosures-findings-from-2020-10-ks/#comments Tue, 25 May 2021 12:55:34 +0000 https://corpgov.law.harvard.edu/?p=138214?d=20210525092200EDT Posted by Neri Bukspan and Marc Siegel, EY, on Tuesday, May 25, 2021
Editor's Note:

Neri Bukspan and Marc Siegel are partners in Financial Accounting Advisory Services at EY. This post is based on their EY memorandum.

Trends and observations

Background

In August 2020, the Securities and Exchange Commission (SEC) introduced an important new requirement for registrants to provide disclosures about human capital. The new requirements were introduced in connection with the SEC rulemaking streamlining some of the disclosure requirements for business, legal proceedings and risk factors under Regulation S-K.

Commencing with most reports filed after 9 November 2020, companies now provide in their annual reports and registration statements a description of human capital resources to the extent material to an understanding of their business. Specifically, a registrant must disclose a description of “human capital resources, including the number of persons employed” and “measures or objectives that the registrant focuses on in managing the business (such as depending on the nature of the registrant’s business and workforce, measures or objectives that address the development, attraction and retention of personnel).”

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