SEC Proposes Targeted Regulatory Relief for Certain Small Public Companies from Sarbanes-Oxley 404(b)

In a much-anticipated move, the Securities and Exchange Commission (SEC) recently proposed a rule to revise the definition of “accelerated” and “large accelerated” filers.  The proposed rule would expand the scope of small public companies that are exempt from the auditor attestation of internal controls over financial reporting requirement under Sarbanes-Oxley (SOX) 404(b). If adopted as proposed, “smaller reporting companies” that have annual revenues o