SECURITIES AND EXCHANGE COMMISSION ISSUES PROPOSED RULE: ENHANCEMENT OF EMERGING GROWTH COMPANY ACCOMMODATIONS AND SIMPLIFICATION OF FILER STATUS FOR REPORTING COMPANIES

WASHINGTON, May 21 -- Securities And Exchange Commission has issued a proposed rule called: Enhancement of Emerging Growth Company Accommodations and Simplification of Filer Status for Reporting Companies.

The proposed rule was published in the Federal Register on May 21 by Vanessa A. Countryman, Secretary.

Summary: The Securities and Exchange Commission ("Commission") proposes amendments to streamline filer statuses for Securities Exchange Act of 1934 ("Exchange Act") reporting companies into two primary categories: large accelerated filers and non-accelerated filers. The Commission further proposes to raise the threshold and seasoning requirements for large accelerated filer status and extend certain existing accommodations and scaled d...