In Nov 1998, the SEC proposed a modification to the federal securities law disclosure requirements to facilitate the process of issuing new securities. Thomas and Cotter discuss how to determine when companies should be able to issue simplified disclosure documents.
Randall S. Thomas & James F. Cotter,
Measuring Securities Market Efficiency in the Regulatory Setting,
63 Law and Contemporary Problems
Available at: http://scholarship.law.duke.edu/lcp/vol63/iss3/6