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![handle is hein.congrecreports/crptxafwe0001 and id is 1 raw text is: AUTHENTICATED
U.GOVERNMENT
INFORMATION .
118TH CONGRESS REPORT
1st Session HOUSE OF REPRESENTATIVES 118-336
GUIDING UNIFORM AND RESPONSIBLE DISCLOSURE
REQUIREMENTS AND INFORMATION LIMITS ACT OF 2023
DECEMBER 22, 2023.-Committed to the Committee of the Whole House on the State
of the Union and ordered to be printed
Mr. MCHENRY, from the Committee on Financial Services,
submitted the following
R E P O R T
together with
MINORITY VIEWS
[To accompany H.R. 4790]
The Committee on Financial Services, to whom was referred the
bill (H.R. 4790) to amend the Federal securities laws with respect
to the materiality of disclosure requirements, to establish the Pub-
lic Company Advisory Committee, and for other purposes, having
considered the same, reports favorably thereon with an amendment
and recommends that the bill as amended do pass.
The amendment is as follows:
Strike all after the enacting clause and insert the following:
SECTION 1. SHORT TITLE; TABLE OF CONTENTS.
(a) SHORT TITLE.-This Act may be cited as the Guiding Uniform and Respon-
sible Disclosure Requirements and Information Limits Act of 2023 or the GUARD-
RAIL Act of 2023.
(b) TABLE OF CONTENTS.-The table of contents for this Act is as follows:
Sec. 1. Short title; table of contents.
TITLE I-MANDATORY MATERIALITY REQUIREMENT
Sec. 101. Limitation on disclosure requirements.
TITLE II-SEC JUSTIFICATION OF NON-MATERIAL DISCLOSURE MANDATES
Sec. 201. SEC justification of non-material disclosure mandates.
TITLE III-PUBLIC COMPANY ADVISORY COMMITTEE
Sec. 301. Public Company Advisory Committee.
TITLE IV-PROTECTING U.S. BUSINESS SOVEREIGNTY
Sec. 401. Study on detrimental impact of the Directive on Corporate Sustainability Due Diligence and Cor-
porate Sustainability Reporting Directive.
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