Buried in the Fixing America's Surface Transportation Act of 2015 is a requirement that the Securities and Exchange Commission review and revise Regulation S-K to scale or reduce the reporting burden on smaller registrants. As part of this initiative, on June 27, 2016, the SEC issued proposed rules soliciting comment on an increase in the thresholds for qualifying as a "smaller reporting company." If adopted, the proposed expansion of smaller reporting company eligibility would substantially lessen the reporting burden for an estimated 780 additional registrants.