Yesterday, Securities and Exchange Commission Chair, Jay Clayton, testified before the U.S. Senate Committee on Banking, Housing, and Urban Affairs. In his last testimony, Chair Clayton confirmed his plans to conclude his tenure before year end. The Chair provided an overview of the work of the SEC during the year, addressing the SEC’s response to
Accelerated Filer Definitions
SEC Adopts Amendments to Accelerated and Large Accelerated Filer Definitions: First Analysis
This Lexis Practice Advisor First Analysis article discusses the amendments adopted by the U.S. Securities and Exchange Commission to the accelerated filer and large accelerated filer definitions in Rule 12b-2 under the Securities Exchange Act of 1934 (17 CFR 240.12b-2). The final amendments are intended to reduce the number of issuers that qualify as accelerated…
Public Float Test Date for Determining Large Accelerated, Accelerated and Small Reporting Company Filer Status
A number of public companies have experienced dramatic fluctuations in their stock price, trading volume and market capitalization as a result of the recent market downturn triggered by the COVID-19 pandemic. For registrants concerned about steep declines in their day-to-day market cap in this volatile environment and how the volatility may impact their status as…
Legal Update: SEC Adopts Amendments to Accelerated and Large Accelerated Filer Definitions
On March 12, 2020, the US Securities and Exchange Commission (SEC) adopted amendments to the accelerated filer and large accelerated filer definitions in Rule 12b-2 under the Securities Exchange Act of 1934 (Rule 12b-2). The final amendments are intended to reduce the number of issuers that qualify as accelerated filers and reduce compliance costs for…
New Definitions of Accelerated and Large Accelerated Filer
The Securities and Exchange Commission adopted amendments to the accelerated filer and large accelerated filer definitions, which impact the Sarbanes-Oxley Act of 2002.
The amendments will:
- Exclude from the accelerated and large accelerated filer definitions an issuer that is eligible to be a smaller reporting company (SRC) and had annual revenues of less than $100
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