H.R. 4164 Small Company Disclosure Simplification

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H.R. 4164 Small Company Disclosure Simplification Act The Hurt act U.S. House of Representatives Sponsor: Rep. Hurt (R) Virginia Exempt small companies 250M from XBRL Directs the SEC to: analyze the costs and benefits of XBRL report to

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H.R. 4164 Small Company Disclosure Simplification Act The “Hurt” act
U.S. House of Representatives<br>
02
Sponsor: Rep. Hurt (R) Virginia Exempt small companies < $250M from XBRL
Directs the SEC to:
analyze the costs and benefits of XBRL
report to certain congressional committees on the results of such analysis as well as on progress in implementing XBRL reporting within the SEC, and use of XBRL data by the SEC and by investors
Main sponsor: Biotechnology Consortium
2014-03-14: ordered to report 51 yea – 5 nea.
Small probability of (immediate) enactment<br>
03
Discussions with my Representative Huge costs reported
House testimony $35k costs by a small company
Many statements of $10k average (U.S.)
Unable to get clear picture or straight answers
Presentations by complainers are clear
Presentations of XBRL one-sided and not clear
Only hearing from special interests
My representatives all voted in favor (of act)<br>