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.

This bill modifies securities laws to reduce reporting requirements for emerging growth companies (typically newer, smaller businesses going public). It specifies that these companies do not need to present historical financial statements from periods before their initial public offering's earliest audited period, including acquired company financials. The change also applies even after a company no longer qualifies as an emerging growth company, eliminating the need to provide those older financial statements. This directly affects emerging growth companies and their financial reporting obligations under the Securities Act of 1933 and Securities Exchange Act of 1934.