H.R.4015 - Corporate Governance Reform and Transparency Act of 2017115th Congress (2017-2018)
|Sponsor:||Rep. Duffy, Sean P. [R-WI-7] (Introduced 10/11/2017)|
|Committees:||House - Financial Services | Senate - Banking, Housing, and Urban Affairs|
|Committee Meetings:||12/12/17 3:00PM|
|Committee Reports:||H. Rept. 115-451|
|Committee Prints:||H.Prt. 115-46|
|Latest Action:||Senate - 12/06/2018 Committee on Banking, Housing, and Urban Affairs. Hearings held. (All Actions)|
|Roll Call Votes:||There have been 2 roll call votes|
This bill has the status Passed House
Here are the steps for Status of Legislation:
- Passed House
Summary: H.R.4015 — 115th Congress (2017-2018)All Information (Except Text)
Passed House amended (12/20/2017)
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.