The SEC adopted inflation adjustments and other technical amendments to rules under the Securities Act and the Securities Exchange Act concerning "emerging growth companies" ("EGCs"). These technical amendments implement certain requirements mandated by the Jumpstart Our Business Startups ("JOBS") Act. The amendments are effective immediately.

As previously discussed, the amendments permit an EGC to present scaled financial disclosures, and to defer compliance with any new or revised financial accounting standards. In addition, the changes exempt EGCs from (i) a Sarbanes-Oxley Act auditor attestation of management's assessment of its internal controls, and (ii) advisory shareholder votes and certain disclosure requirements relating to executive compensation.

The amendments also adjust dollar amounts used in Regulation Crowdfunding for inflation, and revise the definition of "emerging growth company" to reflect the adjustments.

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