,,ib ,union ,cal5d> ,no4 #ia #aai?      
,,congress  #a/ ,session  ,h4 ,r4 #ccja 
,report ,no4 #aai-aba ,,9 ,,! ,,h\se ,,(
 ,,repres5tatives  ,may #h1 #bjbe,mr4   
,nunn ( ,i[a 7= himself & ,ms4 ,bynum7  
introduc$ ! foll[+ bill2 :i* 0 ref]r$ to
 ! ,committee on ,f9ancial ,s]vices     
,june #c1 #bjbe,report$ ) an am5dm5t1   
committ$ to ! ,committee ( ! ,:ole ,h\se
 on ! ,/ate ( ! ,union1 & ord]$ to be   
printed,strike out all aft] ! enact+    
clause & ins]t ! "p pr9t$ 9 italic,for  
text ( introduc$ bill1 see copy ( bill z
 introduc$ on ,may #h1 #bjbe  ,a ,,bill 
,to am5d ! ,securities ,ex*ange ,act (  
#aicd to specify c]ta9 regi/ration      
/atem5t cont5ts = em]g+ gr[? companies1 
to p]mit issu]s to file draft           
regi/ration /atem5ts ) ! ,securities &  
,ex*ange ,commission = confid5tial      
review1 & = o!r purposes4  #a4 ,%ort    
title ,?is ,act may be cit$ z !         
,enc\rag+ ,local ,em]g+ ,v5tures &      
,economic ,gr[? ,act ( #bjbe or !       
,,elevate ,act ( #bjbe4  #b4            

,regi/ration /atem5ts ,section #ab7;b7 (
 ! ,securities ,ex*ange ,act ( #aicd    
7#ae ,u4,s4,c4 #ghl7b77 is am5d$-- 7#a7 
9 p>agraph 7#a77,k71 by /rik+ ye>s1 &   
ins]t+ ye>s 7or1 9 ! case ( an em]g+    
gr[? company1 n m ?an ! two prec$+      
ye>s712 &  7#b7 by add+ at ! end !      
foll[+3 ,any issu] may confid5tially    
submit to ! ,commission a draft         
regi/ration /atem5t = confid5tial       
nonpublic review by ! /aff ( !          
,commission prior to public fil+1       
provid$ t ! initial confid5tial         
submission & all am5dm5ts !reto %all be 
publicly fil$ ) ! ,commission n lat] ?an
 #aj days be=e li/+ on a national       
securities ex*ange4 ,not)/&+ any o!r    
provision ( ?is title1 ! ,commission    
%all n be compell$ to disclose any      
in=mation provid$ to or obta9$ by !     
,commission pursuant to ?is subsection4 
,= purposes ( section #eeb ( title #e1  
?is subsection %all be consid]$ a /atute
 describ$ 9 subsection 7b77#c77;,b7 (   
su* section #eeb4 ,in=mation describ$ 9 

or obta9$ pursuant to ?is subsection    
%all be deem$ to con/itute confid5tial  
in=mation = purposes ( section #bd4 4   
,june #c1 #bjbe,report$ ) an am5dm5t1   
committ$ to ! ,committee ( ! ,:ole ,h\se
 on ! ,/ate ( ! ,union1 & ord]$ to be   
pr9t$