H.R. 4015
IntroducedCorporate Governance Reform and Transparency Act of 2017
Latest Action
Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 115-455.
12/6/2018 • Senate
Summary
Corporate Governance Reform and Transparency Act of 2017
(Sec. 3) This bill amends the Securities Exchange Act of 1934 to: (1) require a proxy advisory firm to register with the Securities and Exchange Commission (SEC); and (2) prohibit an unregistered proxy advisory firm from using interstate commerce to provide proxy-voting research, analysis, or recommendations to any client.
With respect to such 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.
(Sec. 4) The SEC shall report annually on its website regarding registration applications and related matters.
Passed House amended • 12/20/2017
Topics & Subjects
CBO Cost Estimates (1)
Amendments (1)
This bill has 1 amendment proposed or adopted.
View all amendments on Congress.govCongressional Votes (2)
On Passage
December 20, 2017
On Motion to Recommit with Instructions
December 20, 2017
Related Federal Spending
Sponsor & Cosponsors (3)
Party Breakdown
Sponsor
Cosponsors (2)
Bill Journey
Originated in the House
Introduced
October 11, 2017
Committee Review
November 15, 2017
Floor Debate
December 20, 2017
Passed Chamber
December 13, 2017
Other Chamber
President
Failed
December 20, 2017
Text Versions (4)
Committee Reports (1)
Related Bills (3)
H.R. 5311
Corporate Governance Reform and Transparency Act of 2016
H.R. 10
Financial CHOICE Act of 2017
H.Res. 657
Providing for consideration of the bill (H.R. 2396) to amend the Gramm-Leach-Bliley Act to update the exception for certain annual notices provided by financial institutions, and providing for consideration of the bill (H.R. 4015) 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.