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SEC proposes amendments to definition of smaller reporting company

  • SEC (US Securities and Exchange Commission) Image

Jun 28, 2016

The SEC has issued a proposed rule, “Amendments to Smaller Reporting Company Definition.”

The proposal “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.” Specifically, the proposal would increase the qualification threshold from less than $75 million of public float to less than $250 million. Further, companies without a public float “would be permitted to provide scaled disclosures if [their] annual revenues are less than $100 million, as compared to the current threshold of less than $50 million in annual revenues.”

Comments on the proposed rule are due by August 30, 2016. For more information, see Deloitte's related journal entry as well as the press release and proposed rule on the SEC’s Web site.

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