Shareholder Protection Act of 2017

3.0.0 376 2023-01-11T13:34:29Z 2023-01-11T13:34:29Z House HR 2017-01-09 115 [Congressional Record Volume 163, Number 5 (Monday, January 9, 2017)]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. CAPUANO:H.R. 376.Congress has the power to enact this legislation pursuantto the following:ARTICLE 1, SECTION 8, CLAUSE 3[Page H235]]]> hsba00 Financial Services Committee House Standing Referred to 2017-01-09T17:00:05Z Shareholder Protection Act of 2017 115 1726 S 2017-08-02 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Related bill CRS Corporate Political Disclosure Act of 2018 115 5670 HR 2018-05-01 Referred to the House Committee on Financial Services. Related bill CRS 2017-01-09 Referred to the House Committee on Financial Services. IntroReferral H11100 2 House floor actions hsba00 Financial Services Committee 2017-01-09 Introduced in House IntroReferral Intro-H 9 Library of Congress 2017-01-09 Introduced in House IntroReferral 1000 9 Library of Congress C001037 Rep. Capuano, Michael E. [D-MA-7] MICHAEL CAPUANO D MA E. 7 N B001296 Rep. Boyle, Brendan F. [D-PA-13] Brendan Boyle D PA F. 13 2017-01-09 True C001078 Rep. Connolly, Gerald E. [D-VA-11] Gerald Connolly D VA E. 11 2017-01-09 True C000714 Rep. Conyers, John, Jr. [D-MI-13] JOHN CONYERS D MI 13 2017-01-09 True C000984 Rep. Cummings, Elijah E. [D-MD-7] ELIJAH CUMMINGS D MD E. 7 2017-01-09 True D000610 Rep. Deutch, Theodore E. [D-FL-22] Theodore Deutch D FL E. 22 2017-01-09 True E000288 Rep. Ellison, Keith [D-MN-5] Keith Ellison D MN 5 2017-01-09 True L000397 Rep. Lofgren, Zoe [D-CA-19] ZOE LOFGREN D CA 19 2017-01-09 True M000087 Rep. Maloney, Carolyn B. [D-NY-12] CAROLYN MALONEY D NY B. 12 2017-01-09 True M000312 Rep. McGovern, James P. [D-MA-2] JAMES MCGOVERN D MA P. 2 2017-01-09 True M001160 Rep. Moore, Gwen [D-WI-4] Gwen Moore D WI 4 2017-01-09 True N000147 Del. Norton, Eleanor Holmes [D-DC-At Large] ELEANOR NORTON D DC HOLMES 0 2017-01-09 True P000597 Rep. Pingree, Chellie [D-ME-1] Chellie Pingree D ME 1 2017-01-09 True S001168 Rep. Sarbanes, John P. [D-MD-3] John Sarbanes D MD P. 3 2017-01-09 True S001145 Rep. Schakowsky, Janice D. [D-IL-9] JANICE SCHAKOWSKY D IL D. 9 2017-01-09 True S000480 Rep. Slaughter, Louise McIntosh [D-NY-25] LOUISE SLAUGHTER D NY M. 25 2017-01-09 True T000468 Rep. Titus, Dina [D-NV-1] Dina Titus D NV 1 2017-01-09 True T000465 Rep. Tsongas, Niki [D-MA-3] Niki Tsongas D MA 3 2017-01-09 True Y000062 Rep. Yarmuth, John A. [D-KY-3] John Yarmuth D KY A. 3 2017-01-09 True Q000023 Rep. Quigley, Mike [D-IL-5] Mike Quigley D IL 5 2017-01-09 True K000375 Rep. Keating, William R. [D-MA-9] William Keating D MA R. 9 2017-01-09 True C001066 Rep. Castor, Kathy [D-FL-14] Kathy Castor D FL 14 2017-01-09 True E000215 Rep. Eshoo, Anna G. [D-CA-18] ANNA ESHOO D CA G. 18 2017-01-09 True C001101 Rep. Clark, Katherine M. [D-MA-5] Katherine Clark D MA M. 5 2017-01-20 False D000623 Rep. DeSaulnier, Mark [D-CA-11] Mark DeSaulnier D CA 11 2017-01-20 False S001200 Rep. Soto, Darren [D-FL-9] Darren Soto D FL 9 2017-02-02 False D000191 Rep. DeFazio, Peter A. [D-OR-4] PETER DEFAZIO D OR A. 4 2017-02-02 False G000574 Rep. Gallego, Ruben [D-AZ-7] Ruben Gallego D AZ 7 2017-02-02 False G000410 Rep. Green, Gene [D-TX-29] GENE GREEN D TX 29 2017-02-02 False L000559 Rep. Langevin, James R. [D-RI-2] JAMES LANGEVIN D RI R. 2 2017-02-02 False C001068 Rep. Cohen, Steve [D-TN-9] Steve Cohen D TN 9 2017-02-02 False K000385 Rep. Kelly, Robin L. [D-IL-2] Robin Kelly D IL L. 2 2017-02-02 False M001188 Rep. Meng, Grace [D-NY-6] Grace Meng D NY 6 2017-02-02 False N000002 Rep. Nadler, Jerrold [D-NY-10] JERROLD NADLER D NY 10 2017-02-02 False W000800 Rep. Welch, Peter [D-VT-At Large] Peter Welch D VT 0 2017-02-02 False K000188 Rep. Kind, Ron [D-WI-3] RON KIND D WI 3 2017-02-02 False N000179 Rep. Napolitano, Grace F. [D-CA-32] GRACE NAPOLITANO D CA F. 32 2017-02-02 False P000607 Rep. Pocan, Mark [D-WI-2] Mark Pocan D WI 2 2017-02-28 False N000127 Rep. Nolan, Richard M. [D-MN-8] RICHARD NOLAN D MN 8 2017-02-28 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 2017-01-09 Introduced in House 2017-04-03T12:58:01Z Shareholder Protection Act of 2017

This bill amends the Securities Exchange Act of 1934 to require shareholder authorization with respect to certain political expenditures by an issuer.

A violation of this requirement shall be considered a breach of fiduciary duty, and the officers and directors who authorized the expenditure shall be subject to joint and several liability.

The Securities and Exchange Commission must direct the national securities exchanges and associations to prohibit the listing of any equity security of an issuer whose corporate bylaws do not require a board vote with respect to political expenditures in excess of $50,000. An issuer must, within 48 hours, make publicly available the individual votes of each board member with respect to such expenditures.

The bill establishes various reporting requirements.

]]>

Shareholder Protection Act of 2017 Display Title Shareholder Protection Act of 2017 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 IH Short Titles as Introduced Shareholder Protection Act of 2017 Introduced in House 2017-01-09T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-115hr376ih/xml/BILLS-115hr376ih.xml 2017-01-09 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.