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SEC Proposes Changes to “Smaller Reporting Company” Definition

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Jun 27, 2016

On June 27, 2016, the Securities and Exchange Commission (SEC) voted to propose amendments that would increase the financial thresholds in the “smaller reporting company” definition.

The proposal to update the definition would expand the number of companies that qualify as smaller reporting companies, thus qualifying for certain existing scaled disclosures provided in Regulation S-K and Regulation S-X.

Smaller reporting companies may provide scaled disclosures under the Commission’s rules and regulations. The proposed rules would enable a company with less than $250 million of public float to provide scaled disclosures as a smaller reporting company, as compared to the $75 million threshold under the current definition. In addition, if a company does not have a public float, it would be permitted to provide scaled disclosures if its annual revenues are less than $100 million, as compared to the current threshold of less than $50 million in annual revenues.

Review the press release and the proposed amendments on the SEC's website.

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