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Reporting Requirements Reduction Act of 2022
To amend the Securities Exchange Act of 1934 to provide that an issuer that is required to file certain quarterly reports may elect to file those reports semiannually.
Summary
This bill amends the Securities Exchange Act of 1934 to allow public companies to elect to file certain quarterly reports on a semiannual basis instead. Companies would retain the option to continue quarterly filing if they prefer, but those choosing semiannual filing would reduce their reporting frequency from four times per year to twice per year.
AI-generated plain-language summary of the bill text — neutral, and may be imperfect. See the full text below for the exact wording.
Sponsor (1)
- Sen. Tillis, Thomas [R-NC] (R-NC)
Actions (4)
- Dec 13, 2022 Committee on Banking, Housing, and Urban Affairs Subcommittee on Securities, Insurance, and Investment. Hearings held. · senate
- Apr 5, 2022 Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 117-621. · senate
- Mar 24, 2022 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. · senate
- Mar 24, 2022 Introduced in Senate
Similar bills (6)
Bills with similar text or summary — includes reintroductions across Congresses. Ranked by semantic similarity of the bill text (computed locally); a neutral discovery aid, not a claim the bills are duplicates.
Full text
IN THE SENATE OF THE UNITED STATES
March 24, 2022
Mr. Tillis introduced the following bill; which was read twice and referred to the Committee on Banking, Housing, and Urban Affairs
A BILL
To amend the Securities Exchange Act of 1934 to provide that an issuer that is required to file certain quarterly reports may elect to file those reports semiannually.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the “Reporting Requirements Reduction Act of 2022”.
SEC. 2. SEMIANNUAL REPORTS.
Section 13 of the Securities Exchange Act of 1934 (15 U.S.C. 78m) is amended by adding at the end the following:
“(s) Issuer Election.—With respect to any report that, under this section, or under a rule issued under this section, an issuer is required to file on a quarterly basis, the issuer may elect to instead file the report on a semiannual basis.”. <all>
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