The NYSE has proposed a change to Section 303A.00 of the Listed Company Manual related to the exemption from the compensation committee requirements applicable to smaller reporting companies. (See this Cooley Alert.) The amendment is intended to conform the Section to the new SEC rules related to SRCs.
Right after celebrating its second birthday, proposal to change the definition of “smaller reporting company” is adopted (updated)
[This post has been updated to reflect the adopting release, which has now been posted here, as well as posted statements from the Commissioners.] The pressure has been coming from all directions—the Congress, the Treasury—indeed, there’s been nary an advisory committee that hasn’t weighed in on this topic: time for the SEC to change the definition of “smaller reporting company.” After all, the proposal has just celebrated its second birthday—has it aged like a fine wine or is it moldy and stinky like an old piece of cheese? The verdict: moldy cheese that made no one happy, but they all ate it anyway.
by Cydney Posner Without holding an open meeting, the SEC has proposed changes to the definition of a “smaller reporting company” that would raise the financial cap from “less than $75 million” in public float to “less than $250 million,” allowing more companies to take advantage of the scaled disclosures […]
by Cydney Posner The SEC has approved interim final rules implementing two provisions of the Fixing America’s Surface Transportation (FAST) Act. As you may recall, the FAST Act was signed into law in early December and contained several measures that modified the JOBS Act or otherwise related to capital raising for […]
by Cydney Posner On December 10, 2015, Corp Fin issued an announcement highlighting changes in the securities laws resulting from the FAST Act. As previously discussed in this PubCo post, this transportation bill contains several measures that modify the JOBS Act or otherwise relate to capital raising for emerging growth companies, disclosure modernization, the […]
by Cydney Posner The President has signed the FAST Act into law. As previously discussed, this transportation bill contains several measures that modify the JOBS Act or otherwise relate to capital raising for emerging growth companies, disclosure modernization, the development of secondary markets and the registration process for smaller companies. On […]
by Cydney Posner The Hill is reporting that the “Senate approved a five-year, $305 billion highway bill [the FAST Act] Thursday, sending it to President Obama with just one day to spare before the scheduled expiration of the nation’s road and transit spending. The measure passed by a 83-16 tally, […]