The amendments may have indirect effects as well. Maximum internal memory bit: Some commenters thought the proposal was duplicative of EDGAR, particularly considering that we now provide real-time Internet access to reports. The company also would be required to disclose its website address, if it has one. We believe that the revisions will promote direct, uniform and more widespread dissemination of timely information to investors and the markets and further the purposes of short-form registration under the Securities Act. We are sensitive to the costs and benefits that result from our rules. Several other commenters thought the proposed public float measurement date occurred too late in the fiscal year to give companies sufficient time to modify their systems and prepare for accelerated reporting.

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A quarterly report on this form pursuant to Rule 13a or Rule 15d shall be filed within the following period after the end of each of the first three fiscal quarters of each fiscal year, but no report need be filed for the fourth quarter of itel fiscal year:. The annual report deadline will remain 90 days for year one and change from 90 days to 10 days for year two and from 75 days to 60 days for year three and thereafter.

We cd considered the amendments in light of the standards in Section 23 a 2. Other commenters agreed with the notion of excluding smaller companies. We believe this change is in the best interest of the investing public and will not create any additional burden on the large majority of accelerated filers because the required financial information already will be required to have been filed.

Modernizing the disclosure system under the federal securities laws involves recognizing the importance of the Internet in fostering prompt and more widespread dissemination of information.

While any dividing line we ultimately choose could have a possible disproportionate affect at the margin, we believe separating small and large companies balances the needs of intwl against the constraints facing smaller issuers. The quarterly report deadline will remain 45 days for year one and change from 45 days to 40 days for year two and from 40 days to 35 days for year three and thereafter. We also were concerned that linking report deadlines to earnings announcements could 1828 earnings announcements, as companies would know that the announcement would trigger the deadline to file reports.


As discussed in the Proposing Release, we believe that periodic reports contain valuable information for investors. Slightly less than half of those objecting to the proposals commenters did not think any acceleration of deadlines was warranted.

However, we reviewed cost estimates provided by respondents to a survey conducted by the American Society of Corporate Secretaries.

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Under the final rules, accelerated deadlines will apply to a company after it 818 meets the following conditions as of the end of its fiscal year:.

The burden was calculated by multiplying the estimated number of reports on Form Q filed annually 26, by the estimated average number of hours each entity spends completing the form hours.

In addition to other existing sources of company information, such as our website, a company’s website is often an obvious place for investors to find information about a company. Both believed the estimate for the amount of work prepared in-house should be much higher.

Even with a phase-in period, accelerating filing deadlines may create the risk that more companies will file their reports late or need a filing extension. These commenters feared that disclosures could be reduced or become more boilerplate if companies have less time to prepare and review them.

The majority of commenters responding to this request supported this change.

The Form K for the fiscal year ending December 31, will have a day deadline and will be due by March 1, Section 23 a 2 of the Exchange Act requires us, when adopting rules under the Exchange Act, to consider the impact that any new rule would have on competition.

One of the key benefits of the Internet is that companies can make information available to many investors and the financial markets quickly and in a cost-effective manner. In the Proposing Release, we requested comment on whether we should make conforming revisions to the financial statement filing requirements in Item 7 of Form 8-K and Rule of Regulation S-X for financial statements of businesses acquired.


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The proposed rules would have shortened the filing due date of annual reports from 90 days to 60 days after the end of a company’s fiscal year and the filing due date of quarterly reports on Form Q from 45 days to 30 days after the end of a company’s first three fiscal quarters for companies that met our ddc definition of “accelerated filer.

Accordingly, we are requiring companies subject to the accelerated filing deadlines to disclose in their annual reports on Form K where investors can obtain access to company filings, including whether the company provides access to its Exchange Act reports free of charge on its Internet website infel soon as reasonably practicable after those reports are electronically filed with or furnished to the Commission. These commenters offered alternatives to reduce the potential costs and burden to registrants and a possible inadvertent negative impact on disclosure quality.

These estimates were based on the original proposal.

By amending Section As the ability to incorporate the Part III information from the proxy statement is voluntary and is designed for the benefit of registrants, we do not believe this concern warrants either a change to the deadline to incorporate Part III information from the proxy statement or the Form K deadline.

There are some categories of information, for example executive compensation, where requirements for foreign issuers are less onerous.

Ready for the road: This may adversely affect their ability to raise capital. As a result, different timetables will apply for almost all small entities.

Sign in Register Email. While the inttel disclosure required in periodic reports has evolved over the past 30 years, and the integrated disclosure system has placed added emphasis on Exchange Act reporting, the basic structure and timeframes that were established in remain in place today. The Inspiron Series 2-in-1 can be equipped with available