I 

118TH CONGRESS 

1ST SESSION H. R. 2608 

To amend the Federal securities laws to specify the periods for which financial 

statements are required to be provided by an emerging growth company, 

and for other purposes. 

IN THE HOUSE OF REPRESENTATIVES 

APRIL 13, 2023 

Mr. MCHENRY introduced the following bill; which was referred to the 

Committee on Financial Services 

A BILL 

To amend the Federal securities laws to specify the periods 

for which financial statements are required to be provided by an emerging growth company, and for other 

purposes. 

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled, 

3 SECTION 1. FINANCIAL STATEMENT REPORTING REQUIRE4 MENTS FOR EMERGING GROWTH COMPA5 NIES. 

6 (a) SECURITIES ACT OF 1933.—Section 7(a)(2) of 

7 the Securities Act of 1933 (15 U.S.C. 77g(a)(2)) is 

8 amended— 


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1 (1) in subparagraph (A), by striking ‘‘and’’ at 

2 the end; 

3 (2) by redesignating subparagraph (B) as sub4 paragraph (C); and 

5 (3) by inserting after subparagraph (A) the fol6 lowing: 

7 ‘‘(B) need not present acquired company 

8 financial statements or information otherwise 

9 required under section 210.3 05 or section 

10 210.11 01 of title 17, Code of Federal Regula11 tions, or any successor thereto, for any period 

12 prior to the earliest audited period of the 

13 emerging growth company presented in connec14 tion with its initial public offering and, there15 after, in no event shall an issuer that was an 

16 emerging growth company but is no longer an 

17 emerging growth company be required to 

18 present financial statements of the issuer (or 

19 acquired company financial statements or infor20 mation otherwise required under section 210.3 

21 05 or section 210.11 01 of title 17, Code of 

22 Federal Regulations, or any successor thereto) 

23 for any period prior to the earliest audited pe24 riod of the emerging growth company presented 


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1 in connection with its initial public offering; 

2 and’’. 

3 (b) SECURITIES EXCHANGE ACT OF 1934.—Section 

4 12(b)(1)(K) of the Securities Exchange Act of 1934 (15 

5 U.S.C. 78l(b)(1)(K)) is amended by striking ‘‘firm;’’ and 

6 inserting ‘‘firm, provided that the application of an emerg7 ing growth company need not present acquired company 

8 financial statements or information otherwise required 

9 under section 210.3 05 or section 210.11 01 of title 17, 

10 Code of Federal Regulations, or any successor thereto, for 

11 any period prior to the earliest audited period of the 

12 emerging growth company presented in connection with its 

13 application and, thereafter, in no event shall an issuer that 

14 was an emerging growth company but is no longer an 

15 emerging growth company be required to present financial 

16 statements of the issuer (or acquired company financial 

17 statements or information otherwise required under sec18 tion 210.3 05 or section 210.11 01 of title 17, Code of 

19 Federal Regulations, or any successor thereto) for any pe20 riod prior to the earliest audited period of the emerging 

21 growth company presented in connection with any applica22 tion under subsection (b) of this section;’’. 

Æ 


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