Law360 (July 26, 2018, 12:37 PM EDT) -- On June 28, the U.S. Securities and Exchange Commission acted to reduce the burden of being public on smaller companies by voting to expand its definition of “smaller reporting company” to increase the number of public companies that qualify for less extensive reporting rules. Previously, only companies with a public float under $75 million were able to take advantage of the scaled disclosure rules available to smaller reporting companies.
Under the newly adopted amendments, a company will qualify as a smaller reporting company if:
the company has a public float of less than $250 million; or
the company has less than...
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