SEC/CORPORATE -

House Passes Disclosure Modification and “4(a)(1)(1/2)” Bills -

On October 6, the US House of Representatives passed the Disclosure Modification and Simplification Act of 2015 (H.R. 1525), which, if enacted, would require the Securities and Exchange Commission to (1) revise Regulation S-K (which governs disclosure requirements for registration statements and periodic reports, among other things) to eliminate duplicative, outdated or unnecessary disclosure requirements and to otherwise reduce the burdens imposed on emerging growth companies, accelerated filers, smaller reporting companies and other smaller issuers; (2) study additional ways of modernizing and simplifying disclosure requirements; and (3) permit registrants to submit a summary page on Form 10-K (with appropriate cross references to applicable material within the 10-K).