Political Quotes

“Mr. Speaker, I move to suspend the rules and pass the bill (H.R. 5970) to require the Securities and Exchange Commission to implement rules simplifying the quarterly financial reporting regime, as amended. The Clerk read the title of the bill. The text of the bill is as follows: H.R. 5970 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 ``Modernizing Disclosures for Investors Act''. SEC. 2. FORM 10-Q ANALYSIS. (a) In General.--The Securities and Exchange Commission shall conduct an analysis of the costs and benefits of requiring reporting companies to use Form 10-Q for submitting quarterly financial reports. Such analysis shall consider-- (1) the costs and benefits of Form 10-Q to emerging growth companies; (2) the costs and benefits of Form 10-Q to the Commission in terms of its ability to protect investors, maintain fair, orderly, and efficient markets, and facilitate capital formation; (3) the costs and benefits of Form 10-Q to other reporting companies, investors, market researchers, and other market participants, including the costs and benefits associated with-- (A) the public availability of the information required to be filed on Form 10-Q; (B) the use of a standardized reporting format across all classes of reporting companies; and (C) the quarterly disclosure by some companies of financial information in formats other than Form 10-Q, such as a quarterl…”