SEC Amends Definition of "Smaller Reporting Company"

On June 28, the Securities and Exchange Commission (SEC) adopted amendments to the definition of “smaller reporting company” (SRC) to increase the number of companies eligible to comply with certain scaled disclosure requirements under the federal securities laws. The amendments will reduce compliance costs for companies covered under the broader SRC definition that elect to provide the scaled disclosure permitted to SRCs.

In addition, the amendments change the definitions of “accelerated filer” and “large accelerated filer” so that newly SRC-eligible companies continue to be subject to accelerating filing requirements. Moving forward, companies contemplating SRC status should take care in determining how the new rules pertaining to SRCs would interact and potentially affect their disclosure requirements.

View full Alert

Latest Thinking

View more Insights
Insights Center
Knowledge assets are defined in the study as confidential information critical to the development, performance and marketing of a company’s core business, other than personal information that would trigger notice requirements under law. For example,
The new study shows dramatic increases in threats and awareness of threats to these “crown jewels,” as well as dramatic improvements in addressing those threats by the highest performing organizations. Awareness of the risk to knowledge assets increased as more respondents acknowledged that their