On August 10, 2018, the SEC Division of Corporation Finance published a Small Entity Compliance Guide for Issuers in connection with amendments that raised the thresholds in the definition of “smaller reporting company” (“SRC”). The guide summarizes the amendments, states that they will become effective on September 10, 2018 and provides information to assist companies in transitions to the new amended SRC definition. Further, the guide explains how companies may qualify as SRCs and guidance on the scaled disclosure requirements available to SRCs. Lastly, the guide provides clarification on amendments to Rule 3-05 of Regulation S-X as well as amendments to the “accelerated filer” and “larger accelerated filer” definitions in Exchange Act Rule 12b-2. For more information see https://www.sec.gov/corpfin/amendments-smaller-reporting-company-definition.
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