DD Support Board and Research Team

[1manband]

A bill to possibly eliminate the 10-Q has already passed the House, and is now in the Senate.

The bill is H.R. 5970: Modernizing Disclosures for Investors Act. It would require the SEC to study the 10-Q and possibly allow companies to use a press release instead of filing a 10-Q for quarterly results.

Note the bill does not by itself eliminate the 10-Q. It would just require the SEC to study it.

The proposal is backed by NASDAQ. NASDAQ originally proposed to eliminate the 10-Q as one of their blueprint "Revitalize the Capital Markets" and testified in the House Financial Services Committee in support.

If you haven't read it, the NASDAQ proposals are interesting reading. Many of them are already included in other bills in the current Congress. Some I agree with, some I don't.

http://business.nasdaq.com/revitalize