obviously these disclosure requirements, in addition to--in many instances not providing useful information, efficient information to investors, they cost companies a lot of money for an emerging growth company.

I am encouraged by Chair White's comments on the need for the Commission to conduct a review of its corporate disclosure system.

I am encouraged by SEC Chair White's recent comments that the Commission's review of equity market structure will include an examination of the nature of our self-regulatory model.

Even with those successes, I continue to hear from companies--both public and private--in my district about the impacts of outdated and burdensome regulations on their ability to access capital.

Obviously, one of the parts of the Jobs Acts required that the SEC study Reg S-K, and how that can be improved to reduce unnecessary costs to companies that wish to go public, and that are public.

Fostering capital formation in our capital markets requires consistently reliable information on public companies, however, too much information, for the sake of information itself, can create inefficiencies and confusion, especially among…

Last Congress, this subcommittee led the charge to pass the JOBS Act to decrease burdensome regulations and provide incentives for emerging growth companies to access capital and public markets.

I believe this hearing is an important opportunity to allow Members to explore how it is that our equity markets have evolved since that time and potentially where they are headed in the future.

I agree with others who have called for a wholistic review of the Nation's market structure.

I would like to thank today's witnesses for your testimony.

We have continued to see costly unintended consequences arise from regulations that were poorly devised and implemented.