,,ib ,union ,cal5d> ,no4 #hf #aai?      
,,congress  #a/ ,session  ,h4 ,r4 #ccha 
,report ,no4 #aai-aaf ,,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  ,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 #ad1    
#bjbe  ,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$-- 7#a7 by /rik+ ,not)/&+ & ins]t+ 
! foll[+3  7#a7 ,9 g5]al ,not)/&+  2    

7#b7 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]2 &  7#c7 by add+ at ! end !    
foll[+3  7#b7 ,additional requirem5ts   
7,a7 ,9 g5]al ,! ,commission may        
promulgate regulations1 subject to      
public notice & comm5t1 to impose su*   
o!r t]ms1 conditions1 or requirem5ts on 
! engag+ 9 oral or writt5 communications
 describ$ "u p>agraph 7#a7 by an issu]  
o!r ?an an em]g+ gr[? company z !       
,commission det]m9es appropriate4  7,b7 
,report to ,congress ,prior to any      
rulemak+ describ$ "u subp>agraph 7,a71 !
 ,commission %all submit to ,congress a 
report conta9+ a li/ ( ! f9d+s support+ 
! basis ( ! rulemak+4  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 r$esignat+ p>agraph  
7#b7 z p>agraph 7#c72 &  7#c7 by /rik+  
p>agraph 7#a7 & ins]t+ ! foll[+3  7#a7  
,9 g5]al ,any issu] may1 ) respect to an
 initial public (f]+1 initial           
regi/ration ( a security ( ! issu] "u   
section #ab7;b7 ( ! ,securities ,ex*ange
 ,act ( #aicd 7#ae ,u4,s4,c4 #ghl7b771  
or foll[-on (f]+1 confid5tially submit  
to ! ,commission a draft regi/ration    
/atem5t1 = confid5tial nonpublic review 
by ! /aff ( ! ,commission prior to      
public fil+1 provid$ 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  7#b7        
,additional requirem5ts  7,a7 ,9 g5]al  
,! ,commission may promulgate           
regulations1 subject to public notice & 
comm5t1 to impose su* o!r t]ms1         
conditions1 or requirem5ts on !         
submission ( draft regi/ration /atem5ts 
describ$ "u ?is subsection by an issu]  
o!r ?an an em]g+ gr[? company z !       
,commission det]m9es appropriate4  7,b7 
,report to ,congress ,prior to any      
rulemak+ describ$ "u subp>agraph 7,a71 !
 ,commission %all submit to ,congress a 
report conta9+ a li/ ( ! f9d+s support+ 
! basis ( ! rulemak+4  4  ,june #c1     
#bjbe,report$ ) an am5dm5t1 committ$ to 
! ,committee ( ! ,:ole ,h\se on ! ,/ate 
( ! ,union1 & ord]$ to be pr9t$