,i  #aai? ,,congress  #a/ ,session  ,h4 
,r4 #ccha  ,,9 ,,! ,,h\se ,,(           
,,repres5tatives  ,may #ad1 #bjbe,mrs4  
,wagn] 7= h]self1 ,mr4 ,meeks1 & ,mr4   
,sessions7 introduc$ ! foll[+ bill2 :i* 
0 ref]r$ to ! ,committee on ,f9ancial   
,s]vices  ,a ,,bill  ,to am5d !         
,securities ,act ( #aicc to exp& !      
ability to use te/+ ! wat]s &           
confid5tial draft regi/ration           
submissions1 & = o!r purposes4  #a4     
,%ort title ,?is ,act may be cit$ z !   
,enc\rag+ ,public ,(f]+s ,act ( #bjbe4  
#b4 ,exp&+ te/+ ! wat]s ,section #e7;d7 
( ! ,securities ,act ( #aicc 7#ae       
,u4,s4,c4 #gg;e7d77 is am5d$ by /rik+ an
 em]g+ gr[? company or any p]son        
au?oriz$ to act on behalf ( an em]g+    
gr[? company & ins]t+ an issu] or any   
p]son au?oriz$ to act on behalf ( an    
issu]4  #c4 ,confid5tial review ( draft 
regi/ration /atem5ts ,section #f7;e7 ( !
 ,securities ,act ( #aicc 7#ae ,u4,s4,c4
 #gg;f7e77 is am5d$-- 7#a7 9 ! head+1 by
 /rik+ ,em]g+ ,gr[? ,companies & ins]t+ 

,confid5tial review ( draft regi/ration 
/atem5ts2 &  7#b7 by /rik+ p>agraph 7#a7
 & ins]t+ ! foll[+3  7#a7 ,9 g5]al ,any 
issu] may1 ) respect to an initial      
public (f]+1 initial regi/ration ( a    
security ( ! issu] "u section #ab7;b7 ( 
! ,securities ,ex*ange ,act ( #aicd 7#ae
 ,u4,s4,c4 #ghl7b771 or foll[-on (f]+1  
confid5tially submit to ! ,commission a 
draft regi/ration /atem5t1 = 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-- 7,a7 9 ! case ( an initial public 
(f]+1 #aj days be=e ! effective date (  
su* regi/ration /atem5t2  7,b7 9 ! case 
( an initial regi/ration ( a security ( 
! issu] "u su* section #ab7;b71 #aj days
 be=e li/+ on an ex*ange2 or  7,c7 9 !  
case ( any (f]+ aft] an initial public  
(f]+ or an initial regi/ration "u su*   
section #ab7;b71 #dh h\rs be=e !        
effective date ( su* regi/ration        

/atem5t4  4