Today the House of Representatives approved several bills including these two, which we have previously commented on:
H.R. 4569, the Disclosure Modernization and Simplification Act, sponsored by Rep. Scott Garrett (R-NJ). This bipartisan bill will help investors navigate lengthy and confusing company disclosures by allowing public companies to submit a summary page of all material information included in annual Securities and Exchange Commission (SEC) filings. The bill directs the SEC to also simplify financial reporting requirements for small and emerging growth companies.
H.R. 4200, the Small Business Investment Companies Advisers Relief Act, sponsored by Rep. Blaine Luetkemeyer (R-MO). H.R. 4200 amends the Investment Advisers Act of 1940 to reduce unnecessary regulatory costs and eliminate duplicative regulation of advisers to Small Business Investment Companies, which are professionally-managed investment funds that finance small businesses.