On March 31, 2017, the US Securities and Exchange Commission (SEC) adjusted the threshold used in the definition of “emerging growth company” (EGC), as required by the Jumpstart Our Business Startups Act (JOBS Act), as well as adjusted the dollar amounts used in Regulation Crowdfunding. At the same time, the SEC adopted related technical amendments to its rules and forms. Because the amendments revised cover pages on many SEC forms, they also affect SEC reporting companies that are not EGCs and that do not participate in crowdfunding. The amendments became effective upon the publication of the adopting release in the Federal Register on April 12, 2017.
This Legal Update provides details on the adjustments and amendments and discusses practical considerations for SEC reporting companies.