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S. 3033 110th Congress Senate

Securities Litigation Attorney Accountability and Transparency Act

Official title: A bill to protect investors by fostering transparency and accountability of attorneys in private securities litigation.

Introduced: May 19, 2008 Introduced by: John Cornyn Republican · Texas See on congress.gov
Finance and Financial Sector Campaign fundsCivil actions and liabilityClass actions (Civil procedure)Commerce
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Competitive biddingConflict of interestsCongressCongressional investigationsCongressional reporting requirementsEvidence (Law)Frivolous lawsuitsGovernment Operations and PoliticsLawLawyersLegal advertising and solicitingLegal ethicsLegal feesPolitical action committeesSecurities fraudSecurities industry
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This bill died when the 110th Congress ended
It never became law before the 110th Congress (2007–2008) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
May 19, 2008
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
May 19, 2008
Sponsor introductory remarks on measure. (CR S4376-4377)
May 19, 2008
Introduced in Senate
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 Latest action May 19, 2008

Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

 Plain-English summary Congressional Research Service

Securities Litigation Attorney Accountability and Transparency Act - Amends the Securities Exchange Act of 1934 and the Securities Act of 1933 to require plaintiff and plaintiff's attorney to provide sworn, signed certifications that identify any actual or promised payment by the attorney to the plaintiff, beyond the plaintiff's pro rata share of any recovery.

Requires similar plaintiff and plaintiff's attorney certifications regarding: (1) legal representations; (2) contributions; and (3) conflicts of interest.

Requires the court, in exercising discretion over the approval of lead counsel, to employ a competitive bidding process as one of the criteria (unless the court determines that such a process is not feasible).

Instructs the Comptroller General to study and report to certain congressional committees on average hourly fees in securities class actions.

 Related & companion bills 2
  • HR 3931 Securities Litigation Attorney Accountability and Transparency Act
  • HR 5463 Securities Litigation Attorney Accountability and Transparency Act
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
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APA
U.S. Congress. (2026). S. 3033: Securities Litigation Attorney Accountability and Transparency Act. 110th Congress. Open America. https://openamerica.io/bill/110-S-3033/
MLA
"S. 3033: Securities Litigation Attorney Accountability and Transparency Act." 110th Congress, 2026, Open America, https://openamerica.io/bill/110-S-3033/.
Bluebook (legal)
S. 3033, 110th Cong. (2026), https://openamerica.io/bill/110-S-3033/.
Markdown link
[S. 3033: Securities Litigation Attorney Accountability and Transparency Act](https://openamerica.io/bill/110-S-3033/)
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