At a meeting on May 9, the SEC voted to propose amendments to the definitions of the terms “accelerated filer” and “large accelerated filer.”  If the amendments are adopted, companies that qualify for “smaller reporting company” status with less than $100 million in revenues in the most recent fiscal year would be excluded from the definitions.  As a result, they would not be required to obtain independent auditor attestation of their internal control over financial reporting.  The amendments, which are subject to a 60-day public comment period, would also change the transition thresholds for exiting status as an accelerated and large accelerated filer.

If you have any questions on the proposed amendments, please contact Gunster securities law and corporate governance practice leader 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.

About Gunster

Gunster, Florida’s law firm for business, provides full-service legal counsel to leading organizations and individuals from its 12 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, and its headquarters in West Palm Beach. With nearly 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


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