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Easier Capital Raising for New Companies and Data Confidentiality.

New rules make it easier for young, growing companies to go public by reducing historical data disclosure requirements. Companies can now confidentially consult their documents with the financial regulatory authority before they become publicly available. This aims to speed up the process and reduce risk for businesses, which may indirectly impact the availability of new investments and jobs.
Key points
Young, growing companies (emerging growth companies) need to provide less historical financial data to go public.
Companies can submit draft documents for confidential review by the financial regulatory authority before public filing.
Information provided confidentially to the financial regulatory authority is protected from public disclosure.
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Additional Information
Print number: 117_HR_9413
Sponsor: Rep. McHenry, Patrick T. [R-NC-10]
Process start date: 2022-12-02
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

To amend the Securities Exchange Act of 1934 to specify certain registration statement contents for emerging growth companies, to permit issuers to file draft registration statements with the Securities and Exchange Commission for confidential review, and for other purposes.

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HR_9413.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2022-12-02.

What are the main provisions?

Key points include:

  • Young, growing companies (emerging growth companies) need to provide less historical financial data to go public.
  • Companies can submit draft documents for confidential review by the financial regulatory authority before public filing.
  • Information provided confidentially to the financial regulatory authority is protected from public disclosure.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. McHenry, Patrick T. [R-NC-10].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Financial Services.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-28.

CATEGORIES

Economy