New SEC Regulatory Initiatives to Reduce Disclosure Obligations and Promote Capital Formation
Simplified Filings Under Form S-K and Form S-X; New Smaller Reporting Company Thresholds; Amended Rule 701
Recording of a 90-minute premium CLE webinar with Q&A
This CLE course will examine recent initiatives by Congress and the SEC to encourage capital formation and reduce disclosure requirements for public and private issuers. The panel discussion will include simplification of disclosure requirements under Regulation S-K and Regulation S-X, the new definition of “smaller reporting company,” amendment of Rule 701 to allow more companies to issue stock as compensation without disclosure to investors, and the JOBS and Investor Confidence Act of 2018.
- Disclosure simplification—eliminating duplication
- Changes under Regulation S-K
- Changes under Regulation S-X
- Companies affected
- Smaller reporting companies
- Criteria for meeting new thresholds
- Transitioning to the revised definition
- Amendment of Rule 701
- SEC request for comments to modernize compensatory offering regulations
- JOBS and Investor Confidence Act of 2018
The panel will review these and other high priority issues:
- How the new disclosure simplification amendments will impact Form S-K and S-X disclosures going forward?
- What financial criteria do companies need to consider before transitioning to scaled disclosures under the new SRC thresholds?
- What is the significance of Rule 701 as recently amended?
- How is proposed legislation, such as the JOBS and Investor Confidence Act of 2018, anticipated to impact IPOs and capital formation generally?
- What other initiatives has the SEC taken and what steps is it expected to take?
Davis Polk & Wardwell
Mr. Dostal is a partner in Davis Polk’s Corporate Department, practicing in the Capital Markets Group. He has... | Read More
Mr. Dostal is a partner in Davis Polk’s Corporate Department, practicing in the Capital Markets Group. He has worked on a wide variety of both public and private capital markets transactions, including IPOs and other equity offerings, investment-grade and high-yield debt financings, private placements and mandatory and optional convertible securities offerings, by issuers in various industries. Mr. Dostal's practice also includes advising U.S. public companies on general corporate, securities law and governance matters.Close
Hillary H. Holmes
Gibson, Dunn & Crutcher
Ms. Holmes is a partner in the Houston office of Gibson, Dunn & Crutcher, Co-Chair of the firm’s Capital... | Read More
Ms. Holmes is a partner in the Houston office of Gibson, Dunn & Crutcher, Co-Chair of the firm’s Capital Markets practice group, and a member of the firm’s Oil and Gas, Securities Regulation and Corporate Governance, Private Equity and M&A practice groups. Her practice focuses on capital markets, securities regulation and governance counseling for master limited partnerships and corporations in all sectors of the oil & gas energy industry.Close
Kevin C. Timken
Partner; Co-Leader, Securities & Capital Markets
Michael Best & Friedrich
Mr. Timken has extensive experience in public and private securities offerings, broker-dealer compliance (particularly... | Read More
Mr. Timken has extensive experience in public and private securities offerings, broker-dealer compliance (particularly regarding resales of restricted securities under Rule 144 and otherwise), and regulatory enforcement defense with the SEC, Commodity Futures Trading Commission, the Financial Industry Regulatory Authority, and state securities regulators. His practice includes preparing offering documents for public and private financings, preparing ongoing disclosures to stockholders and the investment community, advising broker-dealers and investment advisors, and other related securities matters.Close