Bill journey · stage 2 of 5
Under committee review
What it doesSummary passed house amended (Jul 10, 2018)
Modernizing Disclosures for Investors Act
(Sec. 2) This bill directs the Securities and Exchange Commission to: (1) report on the costs and benefits of requiring reporting companies to use Form 10-Q to satisfy quarterly financial disclosure requirements; and (2) make recommendations for decreasing costs, increasing transparency, and increasing efficiency of quarterly financial reporting by emerging growth companies.
What just happenedJul 11, 2018
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Who’s behind it
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
The title of the measure was amended. Agreed to without objection.
Motion to reconsider laid on the table Agreed to without objection. (text: CR H6013)
On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote.
Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote.
DEBATE - The House proceeded with forty minutes of debate on H.R. 5970.
Considered under suspension of the rules. (consideration: CR H6013-6015)
Mr. Huizenga moved to suspend the rules and pass the bill, as amended.
Placed on the Union Calendar, Calendar No. 630.
Reported (Amended) by the Committee on Financial Services. H. Rept. 115-811.
Reported (Amended) by the Committee on Financial Services. H. Rept. 115-811.
Ordered to be Reported (Amended) by the Yeas and Nays: 56 - 0.
Committee Consideration and Mark-up Session Held.
Referred to the House Committee on Financial Services.
Introduced in House
Introduced in House
Modernizing Disclosures for Investors Act
(Sec. 2) This bill directs the Securities and Exchange Commission to: (1) report on the costs and benefits of requiring reporting companies to use Form 10-Q to satisfy quarterly financial disclosure requirements; and (2) make recommendations for decreasing costs, increasing transparency, and increasing efficiency of quarterly financial reporting by emerging growth companies.
Simplifying Disclosures for Investors Act
This bill requires the Securities and Exchange Commission to allow issuers of securities traded on a national securities exchange to meet quarterly financial disclosure requirements via an alternative method, such as through a press release or a shortened form. (Currently, such issuers must disclose information quarterly through Form 10-Q.)