• Revised definition of smaller reporting company expected by fall of 2018

    The SEC is planning to adopt rules that revise the definition of “smaller reporting company” by the fall of 2018 and let more public companies submit regulatory filings with a lighter set of disclosures. A top SEC official suggested during a congressional hearing that the agency may also revise the threshold for compliance with the auditor attestation rules for internal controls over financial reporting.
  • Interpretive guidance explains conflict-of-interest rules for investment advisers

    The SEC’s Enforcement Division issued staff guidance in the form of frequently asked questions (FAQs) to help investment advisers voluntarily report their violations of conflict-of-interest rules. The FAQs deal with the Share Class Selection Disclosure Initiative announced in February 2018 to address violations of the fiduciary rule for investment advisers.
  • Hinman: Inline XBRL rule to be finalized within a year

    The SEC is planning to finish the rules requiring public companies to embed interactive data directly into their financial statement within the next 12 months, according to William Hinman, director of the Division of Corporation Finance. The market regulator proposed the rule in March 2017 in an effort to streamline public companies’ use of the eXtensible Business Reporting Language (XBRL).
  • Eight years and waiting: Dodd-Frank executive compensation rules remain on hold

    The SEC will not finish its work on the executive compensation rules from the Dodd-Frank Act for at least another six months, William Hinman, director of the SEC’s Division of Corporation Finance, told a House panel during a recent hearing. Hinman told lawmakers that the regulatory agency’s agenda is too busy for it to address the executive compensation rules during the foreseeable future.