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SEC: Advisory Committee on Smaller Public Companies Request for Public Comment

Contact: Compliance staff
Published: 71 Federal Register 11090
Comments Due: April 3, 2006
Disposition: Filed

The SEC Advisory Committee on Smaller Public Companies solicited public comment on its draft Final Report to the SEC. The report includes recommendations:

  • To provideĀ a scaled securities regulation based, in part, on equity capitalization and annual revenue;
  • To revise the current shareholder measurement threshold that requires issuers of securities traded over-the-counter to be subject to the periodic reporting requirements of the Securities Exchange Act of 1934;
  • To create a task force to assess and propose ways to reduce redundancies in the regulatory requirements of various government agencies;
  • To clarify the reach of the personal loan prohibition of Section 402 of the Sarbanes-Oxley Act;
  • To reduce certain burdens relating to accounting standards and Section 404 processes.

2006 Regulatory Chart
Federal Register
ABA Comment Letter