On July 18, 2018, the SEC amended Rule 701 of the Securities Act of 1933 in order to increase the threshold for requiring additional disclosure by non-reporting companies to investors up to $10 million. The threshold for such disclosures had previously been $5 million. On July 18, the SEC also issued a Concept Release soliciting comment on the modernization of the use of Rule 701 and Form S-8. The Concept Release sought comment on how to reduce burdens associated with registration on Form S-8 as well as whether Rule 701 should be modified in light of modern trends, such as new types of equity compensation and new forms of contractual relationships between companies and individuals. For more information see https://www.sec.gov/rules/final/2018/33-10520.pdf and https://www.sec.gov/rules/concept/2018/33-10521.pdf.
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