,i  #aai? ,,congress  #a/ ,session  ,h4 
,r4 #ccie  ,,9 ,,! ,,h\se ,,(           
,,repres5tatives  ,may #ad1 #bjbe,mr4   
,himes introduc$ ! foll[+ bill2 :i* 0   
ref]r$ to ! ,committee on ,f9ancial     
,s]vices  ,a ,,bill  ,to require !      
,comptroll] ,g5]al ( ! ,unit$ ,/ates to 
c>ry out a /udy ( ! co/s associat$ )    
small- & m$ium-siz$ companies to        
und]take initial public (f]+s4  #a4     
,%ort title ,?is ,act may be cit$ z !   
,middle ,m>ket ,,ipo ,co/ ,act4  #b4    
,/udy on ,,ipo fees  7a7 ,/udy ,!       
,comptroll] ,g5]al ( ! ,unit$ ,/ates1 9 
consultation ) ! ,securities & ,ex*ange 
,commission & ! ,f9ancial ,indu/ry      
,regulatory ,au?ority1 %all c>ry out a  
/udy ( ! co/s associat$ ) small- &      
m$ium-siz$ companies to und]take initial
 public (f]+s 7,i,p,os74 ,9 c>ry+ out   
su* /udy1 ! ,comptroll] ,g5]al %all--   
7#a7 consid] ! direct & indirect co/s ( 
an ,,ipo1 includ+-- 7,a7 fees (         
acc\ntants1 und]writ]s1 & any o!r       
outside advisors ) respect to ! ,,ipo2  

7,b7 compliance ) ,f$]al & ,/ate        
securities laws at ! "t ( ! ,,ipo2 &    
7,c7 su* o!r ,,ipo-relat$ co/s z !      
,comptroll] ,g5]al may consid]2  7#b7   
comp>e & analyze ! co/s ( an ,,ipo ) !  
co/s ( obta9+ alt]native s\rces ( f9anc+
 & ( liquidity2  7#c7 consid] ! impact (
 su* co/s on capital =mation2  7#d7     
analyze ! impact ( ^! co/s on !         
availability ( public securities (      
small- & m$ium-siz$ companies to retail 
inve/ors2 &  7#e7 analyze tr5ds 9       
,i,p,os ov] a "t p]iod ! ,comptroll]    
,g5]al det]m9es is appropriate to       
analyze ,,ipo pric+ practices1          
consid]+--  7,a7 ! numb] ( ,i,p,os2     
7,b7 h[ co/s = ,i,p,os h evolv$ ov] "t =
 und]writ]s1 inve/m5t advisory firms1 & 
o!r pr(essions = s]vices 9 connection ) 
an ,,ipo2  7,c7 ! numb] ( brok]s &      
deal]s active 9 und]writ+ ,i,p,os2  7,d7
 ! diff]5t types ( s]vices t und]writ]s 
& relat$ p]sons provide be=e & aft] a   
small- or m$ium-siz$ company ,,ipo & !  
factors impact+ ,i,p,os co/s2  7,e7     

*anges 9 ! co/s & availability (        
inve/m5t rese>* = small- & m$ium-siz$   
companies2 &  7,f7 ! impacts (          
litigation & its co/s on be+ a public   
company4  7b7 ,report ,n lat] ?an ! end 
( ! #cfj-;day p]iod beg9n+ on ! date ( !
 enactm5t ( ?is ,act1 ! ,comptroll]     
,g5]al %all issue a report to !         
,congress conta9+ all f9d+s &           
det]m9ations made 9 c>ry+ out ! /udy    
requir$ "u subsection 7a7 & any         
adm9i/rative or legislative             
recomm5dations ! ,comptroll] ,g5]al may 
h4