To amend the Securities Exchange Act of 1934 to require the Securities and Exchange Commission to disclose and report on non-material disclosure mandates, and for other purposes.

This bill requires the Securities and Exchange Commission (SEC) to report on its website each required disclosure of nonmaterial information under federal securities laws and regulations and a justification for the disclosure. The SEC must also report this information to Congress every five years.

The bill also establishes that a person's failure to disclose such nonmaterial information is not a liability in a private action.