On June 28, 2018, the SEC will meet to consider a variety of rule-making actions. Now that all five of the commission positions are filled, this is hopefully a good sign that we will see progress on a number of fronts. Two areas to be addressed at the June 28 meeting are:
- Possible amendments to the smaller reporting company definition. The commission has proposed to increase the threshold to qualify for the smaller reporting company system from $75 million in “public float” to $250 million.
- To change reporting requirements to require the use of the Inline eXtensible Business Reporting Language (iXBRL) format for company financial statement information and fund risk/return summary information. If you haven’t yet dug into inline XBRL you can review a sample filing from the SEC here. Some companies have voluntarily used inline XBRL. Here is a Form 10-Q.
You can read the rest of the meeting notice here.
As always, your thoughts and comments are welcome!