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Bill113th CongressFiled May 6, 2014Finance and Financial Sector
H.R. 4569

Disclosure Modernization and Simplification Act of 2014

Bill journey · stage 2 of 5

Under committee review

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What it doesSummary passed house amended (Dec 2, 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  • eliminate duplicative, overlapping, outdated, or unnecessary provisions; and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.

What just happenedDec 3, 2014

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
2 cosponsors2 R
Read on Congress.gov
2cosponsors2committees16actions1related bills10subjects
  • Referred in SenateDec 3, 2014
  • Engrossed in HouseDec 2, 2014
  • Reported in HouseDec 2, 2014
  • Introduced in HouseMay 6, 2014
  1. Dec 3, 2014IntroReferral

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

  2. Dec 2, 2014FloorH38310

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

  3. Dec 2, 2014FloorH37300

    On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H8258)

  4. Dec 2, 2014Floor8000

    Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote.(text: CR H8258)

  5. Dec 2, 2014FloorH8D000

    DEBATE - The House proceeded with forty minutes of debate on H.R. 4569.

  6. Dec 2, 2014FloorH30000

    Considered under suspension of the rules. (consideration: CR H8258-8260)

  7. Dec 2, 2014FloorH30300

    Mr. Garrett moved to suspend the rules and pass the bill, as amended.

  8. Dec 2, 2014CalendarsH12410

    Placed on the Union Calendar, Calendar No. 482.

  9. Dec 2, 2014CommitteeH12200

    Reported (Amended) by the Committee on Financial Services. H. Rept. 113-642.

  10. Dec 2, 2014Committee5000

    Reported (Amended) by the Committee on Financial Services. H. Rept. 113-642.

  11. May 22, 2014Committee

    Ordered to be Reported (Amended) by the Yeas and Nays: 59 - 0.

  12. May 22, 2014Committee

    Committee Consideration and Mark-up Session Held.

  13. May 6, 2014IntroReferralH11100

    Referred to the House Committee on Financial Services.

  14. May 6, 2014IntroReferralIntro-H

    Introduced in House

  15. May 6, 2014IntroReferral1000

    Introduced in House

  16. Apr 9, 2014Committee

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

Passed House amendedDec 2, 201436

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.

Introduced in HouseMay 6, 2014

Disclosure Modernization and Simplification Act of 2014 - Directs the Securities and Exchange Commission (SEC) to: (1) 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 the material contained in form 10-K; (2) revise regulation S-K in order to reduce the burden on smaller issuers, including emerging growth companies, accelerated filers, and smaller reporting companies; and (3) eliminate duplicative, overlapping, outdated, or unnecessary provisions in regulation S-K.

Directs the SEC to study ways to: (1) modernize and simplify the requirements in regulation S-K, (2) improve the readability and navigability of disclosure documents, and (3) discourage repetition and disclosure of immaterial information.