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Corporate Governance Reform and Transparency Act of 2019

Introduced: November 15, 2019 Introduced by: Steil, Bryan Republican · Wisconsin See on congress.gov

Everywhere this bill has been 2 steps

Introduced

In committee

Reported out

Passed House

Passed Senate

To President

Became law

Nov 15, 2019

Referred to the House Committee on Financial Services.

Nov 15, 2019

Introduced in House

Plain-English summary Congressional Research Service

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.

What's happening now November 15, 2019

Referred to the House Committee on Financial Services.

Committees of jurisdiction 1