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SEC proposes to expand the definition of “Smaller Reporting Company”

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The United States Securities and Exchange Commission (SEC) has recently proposed to expand the number of US public companies that qualify as a “smaller reporting company” and who would therefore be eligible to provide reduced disclosures under Regulation S-K and Regulation S-X. Under the proposed rule, a company would qualify as a smaller reporting company if (i) it has an unaffiliated public float of less than $250m (increased from $75m currently) or (ii) it does not have a public float and has annual revenues that are less than $100m (increased from $50m currently).

Brexit: tax implications for multinationals

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On 23 June 2016 the UK voted to leave the EU.  No immediate Emergency Budget is expected but the Autumn Statement may provide an indication of future tax policy.  Whilst the terms of the UK’s future relationship with the EU remain hard to predict, some tax consequences of the UK’s withdrawal from the EU can be anticipated and tax directors should review their existing corporate structures, and any new investment structures, for possible post-Brexit tax inefficiencies.  Mitigating action may be possible.  Looking further ahead, the UK may have more flexibility in setting UK tax policy, whether to attract investment or otherwise, although radical changes seem unlikely.

Brexit: What does it mean for restructuring and insolvency?

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This briefing covers Brexit implications of restructuring and insolvency, in particular it discusses the implications on the European Regulation on Insolvency Proceedings and recognition of insolvency judgments and how schemes of arrangement will be impacted by Brexit.