H.R. 1965, the Small Company Disclosure Simplification Act, would direct the Securities and Exchange Commission to stop using open data to collect financial information from most companies – and go back to old-fashioned plain-text documents.
To be sure, the proposal is based on justified frustration with the SEC’s failure to modernize its reporting requirements. But it moves the agency in exactly the wrong direction – away from modernization, instead of toward it. The right response would be to direct the SEC to fix the quality of its corporate financial disclosure data – not eliminate most of it.
To explore these issues, the Coalition will present a briefing on H.R. 1965 this Friday, Jan. 27, at 2 pm in room 448 of the Cannon House Office Building. All are welcome.
What: Congressional Briefing on Small Company Disclosure Simplification Act (H.R. 1965)
Where: Room 448, Cannon House Office Building
When: Friday, January 27, 2 pm – 3 pm
- Hudson Hollister, Executive Director, Data Coalition
- Joshua New, Center for Data Innovation
- Aron Szapiro, Morningstar / HelloWallet
- Invited experts on data innovation, transparency, and financial reform
- Congressional staff
RSVP: All are welcome; RSVPs are encouraged. Click here to RSVP.