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SEC “Seeking Small Business Input”

In line with President Obama’s recent Executive Order relating to regulation and the regulatory environment the SEC is seeking input on topics that specifically impact smaller reporting companies. 

In the request for comments they state “We are particularly interested to hear your views on rules that affect smaller reporting companies, as well as smaller companies that are not subject to the Commission’s reporting requirements but seek to raise capital in the exempt markets.”

The SEC request is looking for comments within the following 3 areas where you can post and read comments posted by others:

• Regulations and Exemptions Relating to the Offer and Sale of Securities
• Disclosure and Reporting Requirements
• Updating Commission Rules to Promote Economic Growth

As of today there are very few comments posted and most of them relate to exempting smaller reporting companies from the XBRL requirements citing cost constraints. 

I urge everyone in the smaller reporting company arena to take advantage of the opportunity to make suggestions.