Disclosure Modernization and Simplification Act of 2014 2014-12-02 Passed House amended Disclosure Modernization and Simplification Act of 2014 - Directs the Securities and Exchange Commission (SEC) to issue regulations permitting issuers to submit a summary page on annual and transition report form 10-K if each item on that page cross-references electronically or otherwise the material contained in form 10-K to which the item relates.

Requires the SEC to revise regulation S-K (Standard Instructions for Filing Forms under the Securities Act of 1933, the Securities Exchange Act of 1934 and the Energy Policy and Conservation Act of 1975) in order to:

  • reduce the burden on smaller issuers, including emerging growth companies, accelerated filers, and smaller reporting companies (while still providing all material information to investors);
  • eliminate duplicative, overlapping, outdated, or unnecessary provisions; and
  • for which o further study under this Act is necessary to determine the efficacy of such revisions.

Directs the SEC to study ways to: (1) modernize and simplify requirements in regulation S-K, and (2) evaluate information delivery and presentation methods as well as explore methods to discourage repetition and disclosure of immaterial information.

Requires the SEC to issue a proposed rule to implement any recommendations it makes to Congress based on the study.

]]> 2014-05-06 Introduced in House Disclosure Modernization and Simplification Act of 2014 - Directs the Securities and Exchange Commission (SEC) to: (1) issue regulations permitting issuers to submit a summary page on annual and transition report form 10-K if each item on that page cross-references the material contained in form 10-K; (2) revise regulation S-K in order to reduce the burden on smaller issuers, including emerging growth companies, accelerated filers, and smaller reporting companies; and (3) eliminate duplicative, overlapping, outdated, or unnecessary provisions in regulation S-K.

Directs the SEC to study ways to: (1) modernize and simplify the requirements in regulation S-K, (2) improve the readability and navigability of disclosure documents, and (3) discourage repetition and disclosure of immaterial information.

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