,i  #aaf? ,,congress  #a/ ,session  ,h4 
,r4 #djgf  ,,9 ,,! ,,h\se ,,(           
,,repres5tatives  ,july #be1 #bjai,mrs4 
,wagn] 7= h]self & ,mr4 ,budd7 introduc$
 ! foll[+ bill2 :i* 0 ref]r$ to !       
,committee on ,f9ancial ,s]vices  ,a    
,,bill  ,to require ! ,securities &     
,ex*ange ,commission to implem5t rules  
simplify+ ! qu>t]ly f9ancial report+    
regime4  #a4 ,%ort title ,?is ,act may  
be cit$ z ! ,mod]niz+ ,disclosures =    
,inve/ors ,act4  #b4 ,issu] option =    
simplifi$ qu>t]ly f9ancial report+  7a7 
,9 g5]al ,n lat] ?an "o ye> aft] ! date 
( enactm5t ( ?is ,act1 ! ,securities &  
,ex*ange ,commission %all issue su*     
rules z ! ,commission det]m9es may be   
necess>y or appropriate 9 ! public      
int]e/ or = ! protection ( inve/ors to  
all[ issu]s ( securities trad$ on a     
national securities ex*ange to elect to 
disclose qu>t]ly f9ancial in=mation 9 a 
simplifi$ mann]1 su* z ?r\gh a press    
release or by a %ort5$ =m4 ,9 issu+ su* 
disclosure rules1 ! ,commission %all--  

7#a7 am5d rules issu$ pursuant to       
sections #ac7;a7 & #ae7;d7 ( !          
,securities ,ex*ange ,act ( #aicd to    
p]mit issu]s ( securities trad$ on a    
national securities ex*ange to disclose 
qu>t]ly f9ancial in=mation 9 a mann] o!r
 ?an ?r\gh fil+ a ,=m #aj-,q2  7#b7     
require f9ancial /atem5ts disclos$      
pursuant to su* rules to include a      
qu>t]ly income /atem5t1 a balance %eet z
 ( ! la/ day ( ! qu>t]1 & a /atem5t (   
op]ations1 all prep>$ 9 accordance ) su*
 rules z ! ,commission may adopt        
consi/5t ) ?is ,act2  7#c7 n provide any
 exemption ) respect to ! requirem5ts ( 
section #cjb ( ! ,s>banes-,oxley ,act ( 
#bjjb & section #acej ( title #ah1      
,unit$ ,/ates ,code2 &  7#d7 require t  
su* disclosures include a /atem5t ( any 
mat]ial *anges 9 f9ancial condition or  
results ( op]ations s9ce ! end ( !      
issu]'s mo/ rec5t f9ancial /atem5ts     
disclos$ pursuant to ! ,commission's    
rules4  7b7 ,def9itions ,= purposes (   
?is section3 7#a7 ,national securities  

ex*ange ,! t]m national securities      
ex*ange means an ex*ange regi/]$ z a    
national securities ex*ange pursuant to 
section #f ( ! ,securities ,ex*ange ,act
 ( #aicd4  7#b7 ,o!r t]ms ,! t]ms       
,commission1 issu]1 & security h ! mean+
 giv5 ^? t]ms1 respectively1 "u section 
#c ( ! ,securities ,ex*ange ,act (      
#aicd4