1. Short title; table of contents (a) Short title This Act may be cited as the Guiding Uniform and Responsible Disclosure Requirements and Information Limits Act of 2023 or the GUARDRAIL Act of 2023 . (b) Table of contents The table of contents for this Act is as follows: Sec. 1. Short title; table of contents. Title I—Mandatory Materiality Requirement Sec. 101. Limitation on disclosure requirements. Title II—SEC justification of non-material disclosure mandates Sec. 201. SEC justification of non-material disclosure mandates. Title III—Public Company Advisory Committee Sec. 301. Public Company Advisory Committee. Title IV—Protecting U.S. Business Sovereignty Sec. 401. Study on detrimental impact of the Directive on Corporate Sustainability Due Diligence and Corporate Sustainability Reporting Directive. I Mandatory Materiality Requirement 101. Limitation on disclosure requirements (a) Securities Act of 1933 Section 2(b) of the Securities Act of 1933 ( 15 U.S.C. 77b(b) ) is amended— (1) in the subsection heading, by inserting ; Limitation on Disclosure Requirements after Formation ; (2) by striking Whenever and inserting the following: (1) In general Whenever