To make reforms to the capital markets of the United States, and for other purposes.
Legislative Progress
ReportedReported from the Committee on Financial Services with an amendment
Committee on Education and the Workforce discharged; committed to the …
Mr. McHenry introduced the following bill; which was referred to …
Summary
What This Bill Does
Omnibus securities reform package including emerging growth company threshold increases, auditor independence reforms, and market value calculation changes for acquisition disclosure.
Who Benefits and How
- Emerging growth companies maintain EGC status longer with higher thresholds
- Small issuers face reduced disclosure and audit requirements
- Growing companies benefit from extended regulatory accommodations
Who Bears the Burden and How
- SEC must implement multiple regulatory changes
- Investors receive less disclosure from larger private companies
- Audit quality potentially affected by independence reforms
Key Provisions
- EGC revenue threshold raised from $1B to $1.5B
- EGC status extended from 5 to 7 years
- Market value calculation expanded for acquisition tests
- Auditor independence reforms for pre-IPO audits
Evidence Chain:
This summary is derived from the structured analysis below. See "Detailed Analysis" for per-title beneficiaries/burden bearers with clause-level evidence links.
Primary Purpose
Comprehensive capital markets reform bill easing securities regulations for small and emerging companies
Policy Domains
Legislative Strategy
"Reduce regulatory burden to encourage capital formation"
Bill Structure & Actor Mappings
Who is "The Secretary" in each section?
- "the_commission"
- → SEC
We use a combination of our own taxonomy and classification in addition to large language models to assess meaning and potential beneficiaries. High confidence means strong textual evidence. Always verify with the original bill text.
Learn more about our methodology