Ask AI
Bill114th CongressFiled Mar 23, 2015Finance and Financial Sector
H.R. 1525

Disclosure Modernization and Simplification Act of 2015

Bill journey · stage 2 of 5

Under committee review

Filed
Comm.
Floor
Both
Law

What it doesSummary passed house without amendment (Oct 6, 2015)

(This measure has not been amended since it was introduced. The summary has been expanded because action occurred on the measure.)

Disclosure Modernization and Simplification Act of 2015

(Sec. 2) 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.

(Sec. 3) 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); and
  • eliminate duplicative, overlapping, outdated, or unnecessary provisions.

(Sec. 4) 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 upon the study.

What just happenedOct 7, 2015

Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Who’s behind it

Rep. Garrett, Scott [R-NJ-5](R-NJ)Sponsor
Read on Congress.gov
2committees16actions2related bills10subjects
  1. Oct 7, 2015IntroReferral

    Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

    Banking, Housing, and Urban Affairs Committee
  2. Oct 6, 2015FloorH38310

    Motion to reconsider laid on the table Agreed to without objection.

  3. Oct 6, 2015FloorH37300

    On motion to suspend the rules and pass the bill Agreed to by voice vote. (text: CR H6804)

  4. Oct 6, 2015Floor8000

    Passed/agreed to in House: On motion to suspend the rules and pass the bill Agreed to by voice vote.(text: CR H6804)

  5. Oct 6, 2015FloorH8D000

    DEBATE - The House proceeded with forty minutes of debate on H.R. 1525.

  6. Oct 6, 2015FloorH30000

    Considered under suspension of the rules. (consideration: CR H6804-6805)

  7. Oct 6, 2015FloorH30300

    Mr. Garrett moved to suspend the rules and pass the bill.

  8. Oct 6, 2015CalendarsH12410

    Placed on the Union Calendar, Calendar No. 211.

  9. Oct 6, 2015CommitteeH12200

    Reported by the Committee on Financial Services. H. Rept. 114-279.

    Financial Services Committee
  10. Oct 6, 2015Committee5000

    Reported by the Committee on Financial Services. H. Rept. 114-279.

    Financial Services Committee
  11. May 20, 2015Committee

    Ordered to be Reported by the Yeas and Nays: 60 - 0.

    Financial Services Committee
  12. May 20, 2015Committee

    Committee Consideration and Mark-up Session Held.

    Financial Services Committee
  13. Apr 29, 2015Committee

    Hearings Held by the Subcommittee on Capital Markets and Government Sponsored Enterprises Prior to Referral.

    Capital Markets Subcommittee
  14. Mar 23, 2015IntroReferralH11100

    Referred to the House Committee on Financial Services.

    Financial Services Committee
  15. Mar 23, 2015IntroReferralIntro-H

    Introduced in House

  16. Mar 23, 2015IntroReferral1000

    Introduced in House

Passed House without amendmentOct 6, 201581

(This measure has not been amended since it was introduced. The summary has been expanded because action occurred on the measure.)

Disclosure Modernization and Simplification Act of 2015

(Sec. 2) 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.

(Sec. 3) 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); and
  • eliminate duplicative, overlapping, outdated, or unnecessary provisions.

(Sec. 4) 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 upon the study.

Introduced in HouseMar 23, 2015

Disclosure Modernization and Simplification Act of 2015

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); and
  • eliminate duplicative, overlapping, outdated, or unnecessary provisions.

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 upon the study.

Disclosure Modernization and Simplification Act of 2015 — Informed