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Easier Stock Market Access for New Companies: Fewer Rules, Confidential Filings.

New rules make it easier for small, growing companies to go public by reducing the required financial reporting period. Companies can now confidentially consult their documents with the Securities and Exchange Commission before public disclosure, which may speed up the process and reduce risk. Citizens may indirectly benefit from more innovative companies entering the public market.
Key points
Smaller companies (emerging growth companies) only need to provide two years of financial data instead of three, making it easier for them to go public.
Companies can submit draft documents to the Securities and Exchange Commission for confidential review before public filing, offering more flexibility and privacy.
Information provided confidentially to the Commission is protected and cannot be publicly disclosed, enhancing data security for companies.
article Official text account_balance Process page
Expired
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Additional Information
Print number: 118_HR_2610
Sponsor: Rep. McHenry, Patrick T. [R-NC-10]
Process start date: 2023-04-13
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
AI work logs for this document launch

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 118_HR_2610.

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 2023-04-13.

What are the main provisions?

Key points include:

  • Smaller companies (emerging growth companies) only need to provide two years of financial data instead of three, making it easier for them to go public.
  • Companies can submit draft documents to the Securities and Exchange Commission for confidential review before public filing, offering more flexibility and privacy.
  • Information provided confidentially to the Commission is protected and cannot be publicly disclosed, enhancing data security for companies.
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: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H2725)

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-25.

CATEGORIES

Economy