Bill > HR2629

This bill, the Fostering Innovation Act of 2013, directs the Securities and Exchange Commission (SEC), the U.S. government agency responsible for regulating the securities industry, to update its definition of an "accelerated filer." Accelerated filers are companies that have to submit their quarterly financial reports (Form 10-Q) on a faster schedule than other companies. The bill proposes that the SEC should now consider companies as accelerated filers if they have annual revenues exceeding $100 million and their total market value of stock held by the public (non-affiliates) is between $250 million and $700 million. This change aims to adjust reporting requirements for companies based on their financial size and market presence.