sec-plain-english

# SEC plain English Make material information understandable to an investor without changing the legal or economic substance. This skill is a writing aid, not legal or securities-law compliance advice. ## Lock the disclosure record - Inventory every material fact, number, defined term, condition, exception, cross-reference, risk, and forward-looking qualification before rewriting. - Preserve the scope and strength of `may`, `could`, `expect`, `believe`, `subject to`, and similar language. Never convert a conditional statement into a certainty. - Do not add a legal conclusion, safe-harbor claim, performance promise, or compliance claim. - Keep required legends and mandated wording unchanged unless securities counsel authorizes revision. Flag conflicts between clarity and required language. - Require legal and subject-matter review before filing or distributing regulated disclosure. ## Design for the investor's decision 1. Identify the intended investor and the decision the document supports. 2. Put material, issuer-specific information before process history and boilerplate. 3. State the transaction, security, price or valuation basis, use of proceeds, dilution, conflicts, and principal risks where applicable and supported. 4. Group related facts so the reader does not have to join a claim to a distant exception. 5. Move detail only when the summary remains fair and the full qualification is easy to find. ## Explain risks as relationships - Name the condition o...