Insights & Publications
Diversity & Inclusion
© 2020 Debevoise & Plimpton LLP
The "FAST" Act: Additional EGC Flexibility and Roadmap for Reform of Regulation S-K
7 December 2015
View Client Update
On December 4, 2015, President Obama signed into law the Fixing America’s Surface Transportation Act, or the “FAST” Act, which includes provisions that are intended to: (i) improve access to public capital markets for “emerging growth companies,” or “EGCs,” and (ii) improve, modernize and simplify public company disclosure requirements under Regulation S-K.
The FAST Act improves the ability of EGCs to access the public capital markets by: (i) shortening the period an EGC needs to publicly file its IPO registration statement before conducting a road show; (ii) allowing for an issuer that ceases to be an EGC prior to consummation of its IPO to be treated as an EGC for a certain period of time and (iii) providing additional flexibility for EGCs with presenting historical financial information in an IPO registration statement.
The FAST Act also directs the SEC to: (i) allow registrants to submit a summary page on Form 10-K; (ii) implement certain near-term revisions to Regulation S-K and (iii) further study, and initiate a formal rulemaking process to implement recommendations on, how best to further modernize and simplify the disclosure requirements of Regulation S-K.
Initial Public Offerings
Regulatory, Reporting and Other Advisory Services
Matthew E. Kaplan
Paul M. Rodel
UK Modern Slavery Act Transparency Statement
Debevoise Women's Review