H.R.4164 - Small Company Disclosure Simplification Act113th Congress (2013-2014)
|Sponsor:||Rep. Hurt, Robert [R-VA-5] (Introduced 03/06/2014)|
|Committees:||House - Financial Services|
|Latest Action:||House - 03/14/2014 Ordered to be Reported (Amended) by the Yeas and Nays: 51 - 5. (All Actions)|
This bill has the status Introduced
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Summary: H.R.4164 — 113th Congress (2013-2014)All Information (Except Text)
Introduced in House (03/06/2014)
Small Company Disclosure Simplification Act - Exempts emerging growth companies and issuers with total annual gross revenues of less than $250 million from the requirements to use Extensible Business Reporting Language (XBRL) for financial statements and other mandatory periodic reporting filed with the Securities and Exchange Commission (SEC). Allows such companies, however, to elect to use XBRL for such reporting.
Directs the SEC to: (1) analyze the costs and benefits to such issuers of the requirements to use XBRL for financial statements and other mandatory periodic reporting; and (2) report to certain congressional committees on the results of such analysis as well as on progress in implementing XBRL reporting within the SEC, and use of XBRL data by the SEC and by investors.