SEC Finalizes ‘Scaled Disclosure’ Expansion, Data Tagging Rules

The SEC approved regulations June 28 that would require companies to embed machine-readable data in their filings and enlarge the pool of “smaller reporting companies” that have fewer disclosure requirements.

Securities and Exchange Commission members voted unanimously to adopt the smaller reporting company definition amendments. Commissioners then voted 4-1 to adopt the Inline XBRL filing of tagged data rule, with Republican Hester Peirce voting “no.” Commissioners previously voted unanimously to propose both of them.

The smaller reporting company changes will let companies with less than $250 million of public float to use “scaled disclosures,” raising the threshold from the current ...