Next generation “SaaS” Securities and Exchange Commission (SEC) regulatory disclosure service iCrowdNewswire has launched an…
On March 6th, 2014, Congressman Robert Hurt introduced the Small Company Disclosure Simplification Act, along with Congresswoman Terri Sewell.
The legislation would streamline regulations for small public companies and remove a disincentive for companies to access capital in the public markets.
Hurt released this statement following the introduction of the bill: “The costs associated with our current regulatory climate are having a negative effect on small companies, particularly innovative startups that need additional capital to expand their operations and grow. The JOBS Act, a bipartisan law implemented to remove burdensome regulations for emerging growth companies accessing capital in the public markets, was an important step for job creation; however, more still needs to be done to relieve unnecessary regulatory burdens.”
Hurt specifically references XBRL implementation for small companies as an example of regulatory costs outweighing the benefits of increased oversight. For full access to the press release and his statements, please click here.
What are your opinions of XBRL implementation for smaller companies? Is it worth the trouble?