In December 2014, the SEC proposed amendments to revise the rules related to the thresholds for registration, termination of registration, and suspension of reporting under Section 12(g) of the Exchange Act. These proposals are designed to implement the requirements of the JOBS Act. The proposing release can be found at the following link: http://www.sec.gov/rules/propose /2014/33-9693.pdf.

Registration Requirements -

The JOBS Act revised Section 12(g) of the Exchange Act to increase the threshold at which an issuer is required to register its equity securities. Under the revised threshold, most issuers must register a class of equity securities if it has more than $10 million of total assets and the securities are “held of record” by either (a) 2,000 persons or (b) 500 persons who are not accredited investors.