SEC releases ED for smaller companies.

• Author: Heffes, Ellen M.
• Position: Securities and Exchange Commission's Exposure Draft - Brief article

The Exposure Draft (ED) of what will become the "Final Report of the Securities and Exchange Commission's Advisory Committee on Smaller Public Companies" was published for public comment in the Federal Register on March 3 with a 30-day comment period (ending April 3). Interested readers are encouraged to check the SEC website (www.sec.gov) for an update on the comment period, comments received and actions taken.

The ED was anticipated to align fairly closely with the earlier "draft." Among the proposals that may have--if acted upon by the SEC--the most immediate effects, are proposed exemptions from certain provisions of Section 404 of the Sarbanes-Oxley Act for microcap and smallcap companies.

The ED makes 32 recommendations in total, some of which could...