In addition, companies will be required to check a box on their Form K and Q indicating whether they are an accelerated filer. As discussed in the Proposing Release, we believe that periodic reports contain valuable information for investors. After careful consideration of the comments received, we are adopting a phased-in approach of accelerated deadlines, with no change in deadlines for the first year and a less extensive ultimate acceleration of the deadline for quarterly reports. These amendments require accelerated filers to disclose in their annual reports on Form K the following: While we will continue to explore ways to improve earnings releases, and the Sarbanes-Oxley Act of requires us to take steps in this area, we believe these are separate initiatives from the need to accelerate periodic report deadlines.

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After careful consideration of the comments received, we are adopting a phased-in approach of accelerated deadlines, with no change in deadlines for the first year and cd less extensive ultimate acceleration of the deadline for quarterly reports. We received no comment letters responding to that request. We agree that larger companies may have more complex operations, but they also are more likely than smaller companies to 81128 the infrastructure and resources to report on an accelerated timeframe.

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The first group 20 commenters represented primarily investors, institutional investors and financial analysts who supported the proposals and our objective to provide investors with more timely access to company filings. In formulating these amendments, we have sought to minimize its costs, particularly on small entities. The second group commenters represented primarily companies, business associations, law firms and accounting firms who opposed the extent of acceleration and transition period itel because, in their view, nitel reports in the proposed timeframes would be too burdensome and could result ihtel less accurate filings.

We believe company disclosure should be more readily inte to investors on a timely basis in a variety of locations to facilitate investor access to that information. Number of SSDs installed: Companies that are late in filing their reports will lose eligibility for short-form registration for at least one year, and Securities Act Rule and new filings on Form S-8 will be temporarily unavailable during the period of noncompliance.


While several commenters indicated that they could report on an accelerated timeframe today, several major business associations that surveyed their members reported that adjustment to accelerated deadlines would be easier with a phase-in period. In addition, many public companies issue press releases to announce quarterly and annual results well before they file their reports with us.

Removing the phrase “90 days” and adding, in its place, the phrase “the number of days specified in paragraph j of this section” in the first sentence of paragraph b and the second sentence of paragraph f.

The vast majority of commenters representing investors, investor groups, companies and professional associations were supportive of the proposals. Not all companies issue earnings releases or issue them on an accelerated basis.

While we recognize that investors and the markets rely on information from a variety of sources in formulating their investment decisions, we agree with the near unanimous view of commenters representing the users of reports that the financial and other information in periodic reports is important to them, and that accelerating the delivery of the reports will provide benefits to investors and the markets.

The cost estimates did not appear to be related to market capitalization, revenues, industry or number of reporting segments of the underlying company.

Second, we wish to encourage more direct and widespread accessibility and dissemination of timely information to investors and the capital markets in a variety of locations.

Under Section 15 d of the Exchange Act, a company that vc filed a registration statement under the Securities Act that became effective and has not met the thresholds for suspension of the reporting requirements; and. In response to comments concerned about the technical and other obstacles that intek lead to violating the proposed “same day” requirement, we have eliminated that requirement.

The amendments have two primary objectives. Both believed the estimate for the amount of work prepared in-house should be much higher. These conforming changes will ensure that the deadlines for transition reports remain similar to the deadlines for periodic reports. We see no significant reason to shorten the deadline at this time.


We also considered shorter and longer phase-in periods and deadlines. Store in Netanya city Open hours: Companies will be able to file these financial statements by amendment within the existing time periods.

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According to these commenters, smaller companies with limited operations and personnel could easily develop a significant public float.

For year three and subsequent years, the period will be reduced to days for accelerated filers. We considered, nitel rejected, the alternative of tying the due date of reports to a company’s announcement of earnings.

Accordingly, the quarterly deadline will only be reduced to a day deadline at the end of the phase-in period, which is five days longer than originally proposed. Power AC adapter frequency: We believe our amendments strike a balance between providing investor access to information and giving companies alternatives inel providing this access.

We applaud those that already provide access to their Commission filings through their websites, and encourage every reporting company to do so. Replace the phrase ” days subsequent to the end of a registrant’s fiscal year” with the phrase “, or days subsequent to the end of a registrant’s fiscal year if the registrant is an accelerated filer, as applicable depending on the registrant’s fiscal year or days inte, to the end of a registrant’s fiscal year for other registrants 100 in the first sentence of Section A phased-in approach also will provide the Commission with an opportunity to understand how each incremental change affects the disclosure process.

In addition to the concerns raised by commenters, we have made several modifications to the proposals, although the modifications do not affect our estimate of the incremental burden of the amendments. These changes also ensure that investors receive consistent financial information regardless of the particular registration form a company uses.