3.0.0 5116 2022-10-28T02:00:30Z 2023-09-05T17:28:05Z House HR 2019-11-15 116 [Congressional Record Volume 165, Number 183 (Friday, November 15, 2019)][House]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. STEIL:H.R. 5116.Congress has the power to enact this legislation pursuantto the following:Article I, Section 8, Clause 3 of the United StatesConstitution: ``To regulate commerce with foreign nations,and among the several states, and with the Indian tribes''[Page H8909]]]> hsba00 Financial Services Committee House Standing Referred to 2019-11-15T14:01:50Z 2019-11-15 Referred to the House Committee on Financial Services. IntroReferral H11100 2 House floor actions hsba00 Financial Services Committee 2019-11-15 Introduced in House IntroReferral Intro-H 9 Library of Congress 2019-11-15 Introduced in House IntroReferral 1000 9 Library of Congress S001213 Rep. Steil, Bryan [R-WI-1] Bryan Steil R WI 1 N W000812 Rep. Wagner, Ann [R-MO-2] Ann Wagner R MO 2 2019-11-15 True R000611 Rep. Riggleman, Denver [R-VA-5] Denver Riggleman R VA 5 2019-11-15 True B001282 Rep. Barr, Andy [R-KY-6] Andy Barr R KY 6 2019-11-15 True G000589 Rep. Gooden, Lance [R-TX-5] Lance Gooden R TX 5 2019-11-21 False B001305 Rep. Budd, Ted [R-NC-13] Ted Budd R NC 13 2019-11-21 False R000612 Rep. Rose, John W. [R-TN-6] John Rose R TN W. 6 2019-11-21 False T000480 Rep. Timmons, William R. IV [R-SC-4] William Timmons R SC R. 4 2019-11-22 False H001072 Rep. Hill, J. French [R-AR-2] J. Hill R AR French 2 2019-11-22 False H001074 Rep. Hollingsworth, Trey [R-IN-9] Trey Hollingsworth R IN 9 2019-12-12 False Finance and Financial Sector Administrative remedies Business ethics Competition and antitrust Corporate finance and management Government information and archives Licensing and registrations Securities Securities and Exchange Commission (SEC) Finance and Financial Sector 00 2019-11-15 Introduced in House 2019-12-04T15:20:24Z Corporate Governance Reform and Transparency Act of 2019

This bill requires a proxy advisory firm to register with the Securities and Exchange Commission (SEC) and prohibits an unregistered proxy advisory firm from using interstate commerce to provide proxy-voting research, analysis, or recommendations to any client.

With respect to these firms, the bill (1) establishes procedures for both registration and termination of registration; (2) requires each firm to employ an ombudsman, designate a compliance officer, and file specified documents with the SEC; and (3) prohibits unfair, coercive, or abusive practices.

The SEC must report annually on its website regarding registration applications and related matters.

]]> Corporate Governance Reform and Transparency Act of 2019 Display Title Corporate Governance Reform and Transparency Act of 2019 Official Title as Introduced To improve the quality of proxy advisory firms for the protection of investors and the U.S. economy, and in the public interest, by fostering accountability, transparency, responsiveness, and competition in the proxy advisory firm industry. Introduced in House IH Short Title(s) as Introduced Corporate Governance Reform and Transparency Act of 2019 Introduced in House IH Introduced in House 2019-11-15T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-116hr5116ih/xml/BILLS-116hr5116ih.xml 2019-11-15 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.