SEC Approves PCAOB Amendment Related to Withdrawal From Registration

The SEC has released an order approving the PCAOB’s amendment to Rule 2107 with respect to withdrawal from registration. The amendment “permits the Board, under specified conditions, to treat a registered firm’s failures both to file annual reports and to pay annual fees for at least two consecutive reporting years as a constructive request for leave to withdraw from registration and to deem the firm’s registration withdrawn.”

In a separate statement, PCAOB Chair Erica Williams reiterated her belief that the amendment “will not only make PCAOB registration information more useful for investors, audit committees, and other stakeholders, it will also help our organization use its staff time and resources more efficiently and effectively.”