Reporting · The disclosure rule · Element
The triggers
What must be disclosed, regardless of how it reads.
The part
What it is
Material adverse changes, incidents, breaches of covenant or obligation, and anything the recipient would consider that they had a right to know.
The last is a judgement, which is why it needs a named decision-maker rather than a rule alone.
The smallest level
The attributes it carries
Each attribute is one of the framework’s shared types. What a date is, and how it is written, is defined once for the whole model — the note here says what it means in this particular place.
The other elements in the disclosure rule
The timing
How quickly disclosure must happen, and what starts the clock.
LearnThe decider
Who decides when disclosure is unclear.
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