On August 10, the staff of the Securities and Exchange Commission published A Small Entity Compliance Guide for Issuers (the Guide), which summarizes and explains rules adopted by the SEC with respect to the recently amended definition of “smaller reporting company” and the accommodations available to smaller reporting companies. The Guide is one of a series of small business compliance guides published by the SEC to provide guidance with respect to certain SEC rules. The Guide contains details for issuers on the timing and transition to the amended definition of smaller reporting company—which goes into effect on September 10—including as to when a company may first take advantage of the scaled disclosure requirements available to smaller reporting companies. It also includes a chart of the scaled financial and non-financial disclosure requirements available to smaller reporting companies. The amended definition of smaller reporting company was described in detail in the Corporate & Financial Weekly Digest edition of July 20, 2018.
The full text of the Guide is available here.