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Disclosure Simplification on Senate Agenda

By Stephen Barlas
June 1, 2015
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With Republicans now holding the majority in the Senate, some of the financial reporting and Dodd-Frank reform bills passed by the Republican-controlled House in 2014 may now get a Senate hearing and likely be passed in 2015. One of those bills is the Disclosure Modernization and Simplification Act (H.R. 4569), which would require the Securities & Exchange Commission (SEC) to revise, within 180 days of the bill’s enactment, certain registration and disclosure requirements for securities issuers. The aim is to reduce the burden on smaller companies and to remove any duplicative or unnecessary provisions. The Americans for Financial Reform, the public interest group funded by labor unions and others, apparently doesn’t oppose the bill. The group often opposes Dodd-Frank changes sought by business groups. Marcus Stanley, the group’s policy director, told a Senate committee, “There is no issue in principle with updating or simplifying investor disclosures as long as no material information is lost.”

 

Stephen Barlas has covered Washington, D.C., for trade and professional magazines since 1981 and since 1984 for Strategic Finance and its predecessor Management Accounting. You can reach him at sbarlas@verizon.net.
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