SEC Adopts Technical Amendments to Conform Rules to JOBS Act Provisions and Inflation-Adjusted Thresholds for Emerging Growth Companies and Regulation Crowdfunding
On March 31, 2017, the Securities and Exchange Commission (“SEC”) adopted technical amendments to conform certain rules and forms to modifications made by the Jumpstart Our Business Startups Act (“JOBS Act”) to the Securities Act of 1933 (“Securities Act”) and the Securities Exchange Act of 1934 (“Exchange Act”). In addition, the SEC adopted amendments, to adjust for inflation (1) the annual gross revenue amount used to determine “emerging growth company” (“EGC”) status and (2) the amounts and thresholds included in Regulation Crowdfunding. These amendments took effect on April 12, 2017.
The SEC’s technical amendments impact even those issuers that are not EGCs, as they require modifications to the cover pages of Securities Act registration statements and Exchange Act periodic reports filed by all issuers.