[Congressional Bills 112th Congress]
[From the U.S. Government Publishing Office]
[S. 3392 Introduced in Senate (IS)]

112th CONGRESS
  2d Session
                                S. 3392

To amend the Securities Exchange Act of 1934, to require the disclosure 
 of the total number of the domestic and foreign employees of issuers.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                             July 17, 2012

     Mr. Brown of Ohio (for himself, Mr. Sanders, Mr. Harkin, Mr. 
   Whitehouse, Mr. Blumenthal, Mr. Rockefeller, and Mrs. McCaskill) 
introduced the following bill; which was read twice and referred to the 
            Committee on Banking, Housing, and Urban Affairs

_______________________________________________________________________

                                 A BILL


 
To amend the Securities Exchange Act of 1934, to require the disclosure 
 of the total number of the domestic and foreign employees of issuers.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Outsourcing Accountability Act of 
2012''.

SEC. 2. REQUIRED DISCLOSURE OF NUMBER OF DOMESTIC AND FOREIGN 
              EMPLOYEES.

    Section 13 of the Securities Exchange Act of 1934 (15 U.S.C. 78m) 
is amended by adding at the end the following new subsection:
    ``(r) Disclosure of Number of Domestic and Foreign Employees.--
            ``(1) In general.--Beginning with the first full fiscal 
        year that begins after the date of enactment of this 
        subsection, each issuer required to file reports with the 
        Commission pursuant to subsection (a) shall disclose annually 
        to the Commission and to shareholders--
                    ``(A) the total number of employees, as defined in 
                subsection (d) of section 3121 of title 26 United 
                States Code, or any regulations interpreting such 
                subsection, who are domiciled in the United States and 
                employed by the issuer or any consolidated subsidiary 
                of the issuer;
                    ``(B) the total number of employees, as defined in 
                subsection (d) of section 3121 of title 26 United 
                States Code, or any regulations interpreting such 
                subsection, who are domiciled in any country other than 
                the United States and employed by the issuer or any 
                consolidated subsidiary of the issuer, listed by number 
                in each country; and
                    ``(C) the percentage increase or decrease in the 
                numbers required to be disclosed under subparagraphs 
                (A) and (B) from the previous reporting year.
            ``(2) Exemptions.--An issuer shall not be subject to the 
        requirements of paragraph (1) if the issuer is an emerging 
        growth company, as defined in section 3(a).
            ``(3) Regulations.--The Commission may promulgate such 
        regulations as it considers necessary to implement the 
        requirement under paragraph (1).''.
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