The Securities and Exchange Commission (SEC) has been staying busy recently with final rule-making and proposed regulatory changes. Below is a roundup of some of these recent developments.

Increased Thresholds

On June 28, the SEC adopted amendments to the definition of “smaller reporting company” (SRC) that would increase the number of companies eligible to provide reduced or scaled disclosures. Before the amendments, a company would qualify as an SRC either by having a public float of less than $75 million as of the last business day of its most recently completed second fiscal quarter (the public float test) or, if the company has no public float, by having less than $50 million in annual revenues (the revenues test). Under the amended definition, the threshold under the public float test increased from $75 million to $250 million, and the threshold under the revenues test increased from $50 million to $100 million if the company has no public float or a public float of less than $700 million.

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