Insight
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.
