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H. Rept. 114-201 1 (2015-07-14)

handle is hein.congrecreports/crptxrbb0001 and id is 1 raw text is: AUT-ENTICATED US. GOVERNMENT INFORMATION GP 114TH CONGRESS REPORT 1st Session HOUSE OF REPRESENTATIVES 114-201 SMALL COMPANY SIMPLE REGISTRATION ACT OF 2015 JULY 14, 2015.-Committed to the Committee of the Whole House on the State of the Union and ordered to be printed Mr. HENSARLING, from the Committee on Financial Services, submitted the following REPORT [To accompany H.R. 1723] [Including cost estimate of the Congressional Budget Office] The Committee on Financial Services, to whom was referred the bill (H.R. 1723) to direct the Securities and Exchange Commission to revise Form S-1 so as to permit smaller reporting companies to use forward incorporation by reference for such form, having con- sidered the same, report favorably thereon without amendment and recommend that the bill do pass. PURPOSE AND SUMMARY H.R. 1723, the Small Company Simple Registration Act of 2015, simplifies the securities registration process by amending the Securities and Exchange Commission's Form S-1 registration statement, which is the basic registration form for new securities offerings, to allow smaller reporting companies to incorporate by reference any documents filed with the SEC after the effective date of the Form S-1. BACKGROUND AND NEED FOR LEGISLATION H.R. 1723, the Small Company Simple Registration Act of 2015, simplifies the securities registration process by amending the SEC's Form S-1 registration statement, which is the basic reg- istration form for new securities offerings, to allow smaller report- ing companies to incorporate by reference any documents filed with the SEC after the effective date of the Form S-1. This forward in- corporation by reference eliminates the need for filing excessive paperwork with each subsequent filing. Simplifying this disclosure regime will lower compliance costs associated with filing redundant 49-006

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