As we previously reported, the U.S. Securities and Exchange Commission (SEC) adopted several new rules on March 31, 2017, to effectuate inflation adjustments mandated under the Jumpstart Our Business Startups (JOBS) Act. It also made a number of technical amendments to its existing rules and forms to conform them to certain provisions of the JOBS Act and related SEC Staff interpretations. Those amendments became effective on April 12, 2017.
Among other changes, the SEC adopted amendments to modify the cover page of certain registration statements and reports, including Form 10-Q and Form 8-K, to include two new check boxes to allow companies to indicate whether, at the time of the filing, the company is an “emerging growth company” (EGC) and whether it has elected not to use the extended transition period for an EGC to comply with any new or revised financial accounting standards. As a result, companies should ensure they are using the new SEC form cover pages.
A copy of the SEC adopting release outlining the new rules and amendments is available here.
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