• Proposed rule for ETFs expected to speed up offerings

    The SEC has proposed updating its rules for exchange-traded funds (ETFs) and letting ETFs that satisfy certain conditions to come market more quickly. If the rule is finalized, the ETFs will be granted exemptions from the Investment Company Act’s requirements that govern the sale of fund shares.
  • Almost 1,000 additional companies gain smaller reporting company status

    The SEC revised its regulatory definition of smaller reporting company and let 966 additional companies submit regulatory filings with a lighter set of disclosures. The threshold to qualify as a smaller reporting company was raised to $250 million of shares trading in the public’s hands from $75 million.
  • Inline XBRL now required for regulatory filings

    The SEC adopted rules to require public operating companies to embed interactive data tags directly into their financial statements using a process called the inline eXtensible Business Reporting Language (XBRL). Investment companies are also required to provide risk-and-return summaries using inline XBRL.
  • Tax Reform Progress Report | June 2018

    In this issue of the Tax Reform Progress Report, we focus on changes in federal income tax calculations, including those related to carried interests, retirement plan loans, Roth recharacterizations and section 965 transition taxes.