H.R.4569 - Disclosure Modernization and Simplification Act of 2014113th Congress (2013-2014)
|Sponsor:||Rep. Garrett, Scott [R-NJ-5] (Introduced 05/06/2014)|
|Committees:||House - Financial Services | Senate - Banking, Housing, and Urban Affairs|
|Committee Reports:||H. Rept. 113-642|
|Latest Action:||12/03/2014 Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (All Actions)|
This bill has the status Passed House
Here are the steps for Status of Legislation:
- Passed House
Summary: H.R.4569 — 113th Congress (2013-2014)All Bill Information (Except Text)
Passed House amended (12/02/2014)
Disclosure Modernization and Simplification Act of 2014 - Directs the Securities and Exchange Commission (SEC) to issue regulations permitting issuers to submit a summary page on annual and transition report form 10-K if each item on that page cross-references electronically or otherwise the material contained in form 10-K to which the item relates.
Requires the SEC to revise regulation S-K (Standard Instructions for Filing Forms under the Securities Act of 1933, the Securities Exchange Act of 1934 and the Energy Policy and Conservation Act of 1975) in order to:
- reduce the burden on smaller issuers, including emerging growth companies, accelerated filers, and smaller reporting companies (while still providing all material information to investors);
- eliminate duplicative, overlapping, outdated, or unnecessary provisions; and
- for which o further study under this Act is necessary to determine the efficacy of such revisions.
Directs the SEC to study ways to: (1) modernize and simplify requirements in regulation S-K, and (2) evaluate information delivery and presentation methods as well as explore methods to discourage repetition and disclosure of immaterial information.
Requires the SEC to issue a proposed rule to implement any recommendations it makes to Congress based on the study.