,,ii  #aai? ,,congress  #b;d ,session   
,s4 #djcd  ,,9 ,,! ,,s5ate ,,( ,,!      
,,unit$ ,,/ates  ,m>* #aj1 #bjbf,mr4    
,ricketts 7= himself & ,ms4 ,cortez     
,ma/o7 introduc$ ! foll[+ bill2 :i* 0   
read twice & ref]r$ to ! ,committee on  
,bank+1 ,h\s+1 & ,urban ,affairs  ,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 ( #bjbf or !       
,,elevate ,act ( #bjbf4  #b4            
,regi/ration /atem5ts ,section #ab7;b7 (
 ! ,securities ,ex*ange ,act ( #aicd    
7#ae ,u4,s4,c4 #ghl7b77 is am5d$-- 7#a7 
9 p>agraph 7#a71 by r$esignat+          
subp>agraphs 7,a7 ?r\gh 7,l7 z clauses  
7i7 ?r\gh 7xii71 respectively2  7#b7 by 
r$esignat+ p>agraphs 7#a71 7#b71 & 7#c7 

z subp>agraphs 7,a71 7,b71 & 7,c71      
respectively2  7#c7 by ins]t+ 7#a7 aft] 
7b72  7#d7 9 ! matt] prec$+ subp>agraph 
7,a7 ( p>agraph 7#a71 z s r$esignat$1 by
 /rik+ %all conta9-- & ins]t+ %all      
conta9 ! foll[+32  7#e7 9 p>agraph      
7#a77;,a77xi71 z s r$esignat$1 by /rik+ 
ye>s1 & ins]t+ ye>s 7or1 9 ! case ( an  
em]g+ gr[? company1 n m ?an ! two prec$+
 fiscal ye>s712  7#f7 9 p>agraph        
7#a77;,c71 z s r$esignat$1 by /rik+     
p>agraph 7#a77;,i7 & ins]t+ subp>agraph 
7,a77ix72 &  7#g7 by add+ at ! end !    
foll[+3  7#b7 7,a7 ,any issu] may       
confid5tially submit to ! ,commission a 
draft regi/ration /atem5t = confid5tial 
nonpublic review by ! /aff ( !          
,commission prior to public fil+ ( t    
regi/ration /atem5t1 provid$ t ! initial
 confid5tial submission & all am5dm5ts  
to t confid5tial submission %all be     
publicly fil$ ) ! ,commission n lat] ?an
 #aj days be=e ! applicable security is 
li/$ on a national securities ex*ange4  
7,b7 ,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 
p>agraph4  7,c7 ,= purposes ( section   
#eeb ( title #e1 ,unit$ ,/ates ,code1   
?is p>agraph %all be consid]$ a /atute  
describ$ 9 subsection 7b77#c77;,b7 ( su*
 section #eeb4  7,d7 ,in=mation describ$
 9 or obta9$ pursuant to ?is p>agraph   
%all be deem$ to con/itute confid5tial  
in=mation = purposes ( section #bd4  4