Complex sentence: The company was the first to advertise undergarments on national television in 1955 and the first to take advantage of relaxed regulations by the National Association of Broadcasters in 1977 by showing a real person wearing a bra in a commercial.
Split into simpler sentences: The company was the first to advertise undergarments on national television in 1955. Twenty-two years later, it was also the first to take advantage of relaxed regulations by the National Association of Broadcasters, when it showed a live model wearing a bra in a commercial.