3.0.0 1734 2021-09-27T21:31:24Z 2021-09-27T21:31:24Z House H HR 2013-04-25 113 From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. CAPUANO:H.R. 1734.Congress has the power to enact this legislation pursuantto the following:Article I Sec. 8, Clause 3: ``The Congress shall have Power. . . To regulate Commerce with foreign Nations, and amongthe several States, and with the Indian Tribes.''[Page H2352]]]> hsba00 Financial Services Committee House Standing Referred to 2013-04-25T14:02:30Z Focusing the SEC on Its Mission Act 113 1626 HR 2013-04-18 Referred to the House Committee on Financial Services. Related bill CRS Shareholder Protection Act of 2013 113 824 S 2013-04-25 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Identical bill CRS 2013-04-25 Referred to the House Committee on Financial Services. IntroReferral H11100 2 House floor actions hsba00 Financial Services Committee 2013-04-25 Introduced in House IntroReferral Intro-H 9 Library of Congress 2013-04-25 Introduced in House IntroReferral 1000 9 Library of Congress C001037 Rep. Capuano, Michael E. [D-MA-7] MICHAEL CAPUANO D MA E. 7 N C001084 Rep. Cicilline, David N. [D-RI-1] David Cicilline D RI N. 1 2013-04-25 True C001078 Rep. Connolly, Gerald E. [D-VA-11] Gerald Connolly D VA E. 11 2013-04-25 True C000714 Rep. Conyers, John, Jr. [D-MI-13] JOHN CONYERS D MI 13 2013-04-25 True C000984 Rep. Cummings, Elijah E. [D-MD-7] ELIJAH CUMMINGS D MD E. 7 2013-04-25 True D000598 Rep. Davis, Susan A. [D-CA-53] SUSAN DAVIS D CA A. 53 2013-04-25 True D000191 Rep. DeFazio, Peter A. [D-OR-4] PETER DEFAZIO D OR A. 4 2013-04-25 True D000216 Rep. DeLauro, Rosa L. [D-CT-3] ROSA DELAURO D CT 3 2013-04-25 True E000290 Rep. Edwards, Donna F. [D-MD-4] Donna Edwards D MD F. 4 2013-04-25 True E000288 Rep. Ellison, Keith [D-MN-5] Keith Ellison D MN 5 2013-04-25 True E000215 Rep. Eshoo, Anna G. [D-CA-18] ANNA ESHOO D CA G. 18 2013-04-25 True F000030 Rep. Farr, Sam [D-CA-20] SAM FARR D CA 20 2013-04-25 True G000551 Rep. Grijalva, Raúl M. [D-AZ-3] Raúl Grijalva D AZ M. 3 2013-04-25 True L000557 Rep. Larson, John B. [D-CT-1] JOHN LARSON D CT B. 1 2013-04-25 True L000562 Rep. Lynch, Stephen F. [D-MA-8] Stephen Lynch D MA F. 8 2013-04-25 True M000087 Rep. Maloney, Carolyn B. [D-NY-12] CAROLYN MALONEY D NY B. 12 2013-04-25 True M000133 Rep. Markey, Edward J. [D-MA-5] Edward Markey D MA J. 5 2013-04-25 True M000312 Rep. McGovern, James P. [D-MA-2] JAMES MCGOVERN D MA P. 2 2013-04-25 True M001149 Rep. Michaud, Michael H. [D-ME-2] Michael Michaud D ME H. 2 2013-04-25 True M001160 Rep. Moore, Gwen [D-WI-4] Gwen Moore D WI 4 2013-04-25 True M000933 Rep. Moran, James P. [D-VA-8] JAMES MORAN D VA P. 8 2013-04-25 True N000147 Del. Norton, Eleanor Holmes [D-DC-At Large] ELEANOR NORTON D DC HOLMES 0 2013-04-25 True P000597 Rep. Pingree, Chellie [D-ME-1] Chellie Pingree D ME 1 2013-04-25 True S001170 Rep. Shea-Porter, Carol [D-NH-1] Carol Shea-Porter D NH 1 2013-04-25 True S000480 Rep. Slaughter, Louise McIntosh [D-NY-25] LOUISE SLAUGHTER D NY M. 25 2013-04-25 True H000324 Rep. Hastings, Alcee L. [D-FL-20] ALCEE HASTINGS D FL L. 20 2013-04-26 False L000287 Rep. Lewis, John [D-GA-5] JOHN LEWIS D GA 5 2013-04-26 False M001191 Rep. Murphy, Patrick [D-FL-18] Patrick Murphy D FL 18 2013-05-20 False M001188 Rep. Meng, Grace [D-NY-6] Grace Meng D NY 6 2013-05-20 False J000288 Rep. Johnson, Henry C. "Hank," Jr. [D-GA-4] Henry Johnson D GA C. "Hank" 4 2013-05-20 False T000472 Rep. Takano, Mark [D-CA-41] Mark Takano D CA 41 2013-05-23 False C001068 Rep. Cohen, Steve [D-TN-9] Steve Cohen D TN 9 2013-07-17 False C001090 Rep. Cartwright, Matt [D-PA-17] Matt Cartwright D PA 17 2013-07-24 False W000800 Rep. Welch, Peter [D-VT-At Large] Peter Welch D VT 0 2013-09-09 False T000465 Rep. Tsongas, Niki [D-MA-3] Niki Tsongas D MA 3 2013-09-09 False H001032 Rep. Holt, Rush [D-NJ-12] RUSH HOLT D NJ D. 12 2013-10-08 False L000560 Rep. Larsen, Rick [D-WA-2] RICK LARSEN D WA 2 2014-04-09 False R000515 Rep. Rush, Bobby L. [D-IL-1] BOBBY RUSH D IL L. 1 2014-11-20 False Finance and Financial Sector Administrative law and regulatory procedures Civil actions and liability Congressional oversight Corporate finance and management Elections, voting, political campaign regulation Financial services and investments Government information and archives Government studies and investigations Securities Securities and Exchange Commission (SEC) Finance and Financial Sector 00 2013-04-25 Introduced in House 2013-06-13T14:21:47Z Shareholder Protection Act of 2013 - Amends the Securities Exchange Act of 1934 to require that any solicitation of a proxy, consent, or authorization with respect to any security of an issuer: (1) describe the specific nature (to the extent known) and total amount of expenditures proposed for political activities for the forthcoming fiscal year but not yet authorized by a vote of the issuer's shareholders, and (2) provide for a separate shareholder vote to authorize such proposed expenditures.

Prohibits an issuer from making an expenditure for political activities in any fiscal year unless: (1) such expenditure is of the nature of those proposed by the issuer according to the requirements of this Act, and (2) authorization for such expenditure has been granted by votes representing a majority of outstanding shares.

Deems a violation of this requirement to be a breach of the fiduciary duty of the officers and directors who authorized such expenditure. Subjects officers and directors who authorize the expenditure without prior shareholder authorization to joint and several liability to any shareholder or class of shareholders for the amount of such expenditure.

Requires certain institutional investment managers to disclose annually in mandatory reports how they voted (proxies) in certain shareholder votes.

Prohibits any person from bringing any civil, criminal, or administrative action against an institutional investment manager, or any of its employees, officers, or directors, based solely upon the investment manager's decision to divest from, or not to invest in, securities of an issuer because of expenditures for political activities made by that issuer.

Requires the Securities and Exchange Commission (SEC) to direct the national securities exchanges and national securities associations to prohibit the listing of any equity security of an issuer whose corporate bylaws do not expressly provide for a vote of the issuer's directors on any individual expenditure for political activities in excess of $50,000. Requires an issuer to make public, within 48 hours, the individual votes of the directors regarding any such expenditure.

Directs the SEC to: (1) require issuers to disclose expenditures for political activities made during the preceding quarter and the individual votes by board members authorizing such expenditures, and (2) make such reports publicly available through the SEC website.

Requires the SEC to make annual assessments of the compliance by public corporations and their management with the reporting and disclosure requirements of this Act, and the Comptroller General (GAO) to evaluate periodically the effectiveness of SEC oversight of these requirements.

]]> Shareholder Protection Act of 2013 Short Titles as Introduced Shareholder Protection Act of 2013 Display Title Shareholder Protection Act of 2013 Official Title as Introduced To amend the Securities Exchange Act of 1934 to require shareholder authorization before a public company may make certain political expenditures, and for other purposes. Introduced in House 2013-04-25T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-113hr1734ih/xml/BILLS-113hr1734ih.xml 2013-04-25 Referred to the House Committee on Financial Services. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.