The Securities and Exchange Commission (SEC) published the rule proposal, Enhancement of Emerging Growth Company Accommodations and Simplification of Filer Status for Reporting Companies, which includes amendments aimed at streamlining filer status by establishing two primary categories: large-accelerated filers and non-accelerated filers. The non-accelerated filer category (NAF) would be further disaggregated into “SNF”, smaller non-accelerated filers defined as those with total assets of $35 million or less, and “NAF”, all other accelerated filers. While the proposal does not change existing reporting requirements, the question is posed as to whether SNFs should be exempt from XBRL filing in some or all Exchange Act reports. This rule is out for a 60-day comment period which ends July 20, 2026.
Read the fact sheet.
Read the statements by: SEC Chair Atkins, SEC Commissioner Peirce.
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