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.
Personalized for You
How does this regulation affect your finances?
Personalize government policy and PRIA will tell you what this federal register document means for your household, plus every other regulation we track. PRIA reads each provision against your financial profile to show you exactly what matters to your wallet.
Key Dates
Department and Agencies
Related Federal Register Documents
2026-17183, Regulation Crypto Assets
The Securities and Exchange Commission ("Commission") is proposing new rules to create a tailored offering regime for certain investment contracts involving crypto assets. The proposed offering regime is intended to facilitate capital formation and accommodate innovation within the crypto asset markets while, at the same time, ensuring that investors are adequately protected and provided with the information they need to make informed investment decisions. The proposed rules would be set forth in a new regulation titled "Regulation Crypto Assets" and would include two exemptions from the registration requirements of section 5 of the Securities Act of 1933. The first exemption would permit offerings of up to $5 million during a four-year period. The second exemption would permit offerings of up to $75 million during each 12-month period. Under both exemptions, issuers would be required to make certain principles-based narrative disclosures available to their investors. In addition, issuers under the second exemption would be required to provide financial statements and would be subject to ongoing reporting requirements. Issuers that rely on these exemptions would remain subject to the antifraud and antimanipulation provisions of the Federal securities laws. The proposed rules also would include a conditional safe harbor from the term "investment contract" in the definitions of "security" in the Securities Act of 1933 and the Securities Exchange Act of 1934. If the conditions of that proposed safe harbor are satisfied, then a crypto asset would be deemed not to be subject to an investment contract for purposes of those definitions of "security."
2026-12163, The Trade-Through Rule and Locked and Crossed Markets Provisions of Regulation NMS
The SEC wants to scrap some old rules that stop stocks from being traded at worse prices and prevent confusing market quotes. This change affects stock traders and exchanges, aiming to simplify trading and possibly speed things up. If you want to share your thoughts, you’ve got until August 17, 2026, so don’t miss out!
2026-10373, Registered Offering Reform
The SEC wants to make it easier and cheaper for more companies to sell their stocks and bonds to the public. They’re opening up special forms and benefits to more businesses, updating rules to be more modern, and cutting red tape by overriding some state rules. If you’re a company planning to raise money, these changes could speed things up and save you money, with feedback due by July 27, 2026.
2026-07651, Concept Release on Consolidated Audit Trail and Other Audit Trails and Data Sources
The SEC wants your thoughts on how it tracks stock market trades using the Consolidated Audit Trail and other data tools. They’re thinking about updating rules to keep up with new tech, privacy, and security needs, and to make sure the system is fair and cost-effective. If you’re involved in the stock market or data tracking, speak up by June 22, 2026!
2026-17283, Self-Regulatory Organizations; ICE Clear Credit LLC; Order Approving Proposed Rule Change Relating to the CDS Instrument On-Boarding Policies and Procedures
ICE Clear Credit LLC is updating how it adds new credit default swap (CDS) contracts for clearing. This change makes the process clearer and smoother for everyone involved, including the companies that use these contracts. The update kicks in soon and helps keep things running efficiently without extra costs.
2026-17206, Self-Regulatory Organizations; NYSE American LLC; Notice of Designation of a Longer Period for Commission Action on a Proposed Rule Change To Amend Rules 903G and 906G
Previous / Next Documents
Previous: 2026-10207, Air Plan Approval; FL; Emissions Reporting Requirements and Permitting Forms
The EPA is proposing to approve Florida’s updates to how businesses report air pollution and submit permit forms. These changes make the process easier and clearer by updating forms, deadlines, and removing an old rule. If you’re involved in Florida’s air permits, get ready to follow the new rules and submit comments by June 22, 2026—no extra costs, just smoother paperwork!
Next: 2026-10224, Modernizing NRC Regulations for Byproduct Material Use
The Nuclear Regulatory Commission is updating its rules for using certain radioactive materials to make them clearer and easier to follow. This affects businesses and organizations that handle byproduct and special nuclear materials. The correction takes effect on May 21, 2026, and aims to improve licensing without adding extra costs or delays.