US Congress House Bill 5116 (Prior Session Legislation)

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Spectrum: Partisan Bill (Republican 10-0)
Status: Introduced on November 15 2019 - 25% progression, died in committee
Action: 2019-11-15 - Referred to the House Committee on Financial Services.
Pending: House Financial Services Committee
Text: Latest bill text (Introduced) [PDF]

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

Rep. Bryan Steil [R-WI]	Rep. Ann Wagner [R-MO]	Rep. Denver Riggleman [R-VA]	Rep. Garland Barr [R-KY]
Rep. Lance Gooden [R-TX]	Sen. Ted Budd [R-NC]	Rep. John Rose [R-TN]	Rep. William Timmons [R-SC]
Rep. French Hill [R-AR]	Rep. Trey Hollingsworth [R-IN]

Date	Chamber	Action
2019-11-15	House	Referred to the House Committee on Financial Services.
2019-11-15	House	Introduced in House

Type	Source
Summary	https://www.congress.gov/bill/116th-congress/house-bill/5116/all-info
Text	https://www.congress.gov/116/bills/hr5116/BILLS-116hr5116ih.pdf