,,ib  ,union ,calendar ,no4 #gij  #aaeth
 ,,congress  #b;d ,session  ,h4 ,r4     
#fjce  ,report ,no4 #aae-ajji  ,,in     
,,the ,,house ,,of ,,representatives    
,june #g1 #bjah ,mr4 ,budd introduced   
the following bill2 which was referred  
to the ,committee on ,financial         
,services  ,november #b1 #bjah          
,committed to the ,committee of the     
,whole ,house on the ,state of the      
,union and ordered to be printed  ,a    
,,bill  ,to direct the ,securities and  
,exchange ,commission to revise section 
#bcj4afc of title #ag1 ,code of ,federal
 ,regulations1 to apply the exemption   
offered in such section to              
communications made by underwriters and 
dealers acting by or on behalf of a     
well-known seasoned issuer4  #a4 ,short 
title ,this ,act may be cited as the    
,streamlining ,communications for       
,investors ,act4  #b4 ,exemption of     
communications made by underwriters and 
dealers acting by or on behalf of       
well-known seasoned issuer  7a7 ,in     

general ,not later than #abj days after 
the date of the enactment of this       
section1 the ,securities and ,exchange  
,commission shall revise section        
#bcj4afc7;c7 of title #ag1 ,code of     
,federal ,regulations1 to apply the     
exemption offered in section #bcj4afc of
 title #ag1 ,code of ,federal           
,regulations1 to written and oral       
communications made by an underwriter or
 dealer acting by or on behalf of a     
well-known seasoned issuer if1 before   
such a communication is made--  7#a7 the
 underwriter or dealer making such      
communication receives written          
authorization from the well-known       
seasoned issuer to act as its agent or  
representative2 and  7#b7 the well-known
 seasoned issuer authorized or approved 
such communication4  7b7 ,inclusion in  
prospectus ,a well-known seasoned issuer
 shall identify in the prospectus filed 
for an offering each underwriter or     
dealer that has made oral or written    
communications related the offering in  

reliance on the exemption under section 
#bcj4afc of title #ag1 ,code of ,federal
 ,regulations4  7c7 ,treatment if       
revisions not completed in a timely     
manner ,if the ,commission fails to     
complete the revisions required by      
subsection 7a7 by the time required by  
such subsection1 the exemption offered  
in section #bcj4afc of title #ag1 ,code 
of ,federal ,regulations1 shall be      
deemed to apply to written and oral     
communications made by an underwriter or
 dealer acting by or on behalf of a     
well-known seasoned issuer if1 before   
such a communication is made--  7#a7 the
 underwriter or dealer making such      
communication receives written          
authorization from the well-known       
seasoned issuer to act as its agent or  
representative2 and  7#b7 the well-known
 seasoned issuer authorized or approved 
such communication4  ,november #b1 #bjah
 ,committed to the ,committee of the    
,whole ,house on the ,state of the      
,union and ordered to be printed