The week of June 25 was a busy one at the SEC. Among other things:
- The Commission adopted amendments to the definition of “smaller reporting company”, which will increase the number of companies able to reduce certain disclosure obligations. Interestingly, the SEC has not amended the definition of “accelerated filer”, which means that some SRCs will remain subject to the greater disclosure requirements applicable to accelerated filers. (SEC Chair Clayton has directed the Staff to consider changes to the accelerated filer definition, but that may not happen for a while.)
- The SEC also approved amendments requiring the use of the Inline XBRL format in certain filings.
- The SEC proposed revisions to the rules governing its whistleblower program.
Some of these actions will be discussed in greater detail in a forthcoming posting on The Securities Edge. If you have any questions in the meantime, please contact Gunster securities law and corporate governance practice leaders David Scileppi or Bob Lamm.
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This publication is for general information only. It is not legal advice, and legal counsel should be contacted before any action is taken that might be influenced by this publication.
Gunster, Florida’s law firm for business, provides full-service legal counsel to leading organizations and individuals from its 13 offices statewide. Established in 1925, the firm has expanded, diversified and evolved, but always with a singular focus: Florida and its clients’ stake in it. A magnet for business-savvy attorneys who embrace collaboration for the greatest advantage of clients, Gunster’s growth has not been at the expense of personalized service but because of it. The firm serves clients from its offices in Boca Raton, Fort Lauderdale, Jacksonville, Miami, Orlando, Palm Beach, Stuart, Tallahassee, Tampa, The Florida Keys, Vero Beach, Winter Park, and its headquarters in West Palm Beach. With more than 200 attorneys and 200 committed support staff, Gunster is ranked among the National Law Journal’s list of the 500 largest law firms and has been recognized as one of the Top 100 Diverse Law Firms by Law360. More information about its practice areas, offices and insider’s view newsletters is available at www.gunster.com.