SEC Simplifies Company Filing Rules Again
Published Date: 5/21/2026
Proposed Rule
Summary
The SEC is making it easier for companies that report their finances by simplifying their categories into just two groups: big and small filers. Smaller companies, including emerging growth ones, will get more time to file reports and enjoy simpler rules, while big companies keep stricter standards. These changes aim to save time and money, with feedback open until July 20, 2026.
Analyzed Economic Effects
5 provisions identified: 5 benefits, 0 costs, 0 mixed.
Extend SRC and EGC Accommodations
The SEC proposes to extend existing scaled disclosures and accommodations that apply to smaller reporting companies (SRCs) and emerging growth companies (EGCs) to all non-accelerated filers (NAFs). Those accommodations include scaled financial statement disclosure, scaled executive compensation disclosure, deferred adoption of certain new or revised accounting standards, and the exemption from the internal control over financial reporting (ICFR) auditor attestation under section 404(b) for EGCs.
Two-Tier Filer System Simplified
The SEC proposes to simplify Exchange Act reporting categories into just two groups: large accelerated filers (LAFs) and non-accelerated filers (NAFs). Under the proposal, LAFs would continue to face non-scaled disclosure requirements while all other reporting companies would be treated as NAFs.
Raise Bar For Largest Filers
The SEC proposes to raise the public-float threshold and seasoning requirements used to determine large accelerated filer (LAF) status. That means fewer companies would qualify as LAFs under the new tests, shifting some companies into the non-accelerated filer group.
Longer Deadlines For Smallest Filers
The SEC proposes to extend the deadlines to file periodic reports for the smallest non-accelerated filers, with eligibility measured by total assets. Smallest NAFs would have longer periodic-report filing deadlines than other filers under the proposal.
Update Small Entity RFA Definition
The SEC proposes to update the rules that define which issuers are considered small entities for purposes of the Regulatory Flexibility Act (RFA). This would change which issuers qualify for special small-entity analysis and considerations under the RFA.
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Key Dates
Department and Agencies
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