Text: H.R.4792 — 114th Congress (2015-2016)All Information (Except Text)

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Introduced in House (03/17/2016)


114th CONGRESS
2d Session
H. R. 4792


To update the oil and gas and mining industry guides of the Securities and Exchange Commission.


IN THE HOUSE OF REPRESENTATIVES

March 17, 2016

Mr. Cartwright (for himself, Mr. Fattah, Mr. Pocan, Mr. Cicilline, Ms. Lofgren, and Mr. Polis) introduced the following bill; which was referred to the Committee on Financial Services


A BILL

To update the oil and gas and mining industry guides of the Securities and Exchange Commission.

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

SECTION 1. SEC industry guides.

(a) Definition.—In this section, the term “Commission” means the Securities and Exchange Commission.

(b) Updates to industry guides.—Not later than 180 days after the date of enactment of this Act, the Commission shall—

(1) update—

(A) the industry guides described in subsections (d) and (g) of section 229.801 of title 17, Code of Federal Regulations, and section 229.802(g) of title 17, Code of Federal Regulations; and

(B) subpart 229.1200 of title 17, Code of Federal Regulations; and

(2) in making the updates required under paragraph (1), work with the Investor Advisory Committee, which shall—

(A) solicit and consider public input on appropriate disclosures to include; and

(B) submit specific recommendations to the Commission.

(c) Enforcement.—If the Commission fails to meet the deadline under subsection (b), the Chairman of the Commission shall provide a report to and testify before the Committee on Banking, Housing, and Urban Affairs of the Senate and the Committee on Financial Services of the House of Representatives explaining why the Commission failed to meet the deadline.


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