Bill > HR3301

This bill amends the Securities Exchange Act of 1934 to make two key changes that benefit emerging growth companies during the process of registering securities. First, the bill allows emerging growth companies to include financial information from only the two most recent years in their registration statements, instead of requiring more extensive historical financial reporting. Second, the bill establishes a new confidential review process with the Securities and Exchange Commission (SEC), where companies can submit draft registration statements for nonpublic review before publicly filing them. Under this provision, companies must publicly file their initial confidential submission and any amendments no later than 10 days before listing on a national securities exchange. Additionally, the bill protects the confidentiality of information submitted during this process, preventing the SEC from being compelled to disclose these documents and treating the information as confidential. This legislation aims to reduce regulatory burdens and provide more flexibility for smaller, emerging companies seeking to enter public markets by streamlining the registration process and offering a more private initial review mechanism.

Business and Industry, Housing and Urban Affairs

https://www.congress.gov/bill/119th-congress/house-bill/3301/all-info