US HB376 | 2017-2018 | 115th Congress
Status
Spectrum: Partisan Bill (Democrat 39-0)
Status: Introduced on January 9 2017 - 25% progression, died in committee
Action: 2017-01-09 - Referred to the House Committee on Financial Services.
Pending: House Financial Services Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on January 9 2017 - 25% progression, died in committee
Action: 2017-01-09 - Referred to the House Committee on Financial Services.
Pending: House Financial Services Committee
Text: Latest bill text (Introduced) [PDF]
Summary
Shareholder Protection Act of 2017 This bill amends the Securities Exchange Act of 1934 to require shareholder authorization with respect to certain political expenditures by an issuer. A violation of this requirement shall be considered a breach of fiduciary duty, and the officers and directors who authorized the expenditure shall be subject to joint and several liability. The Securities and Exchange Commission must direct the national securities exchanges and associations to prohibit the listing of any equity security of an issuer whose corporate bylaws do not require a board vote with respect to political expenditures in excess of $50,000. An issuer must, within 48 hours, make publicly available the individual votes of each board member with respect to such expenditures. The bill establishes various reporting requirements.
Title
Shareholder Protection Act of 2017
Sponsors
Rep. Michael Capuano [D-MA] | Rep. Brendan Boyle [D-PA] | Rep. Gerald Connolly [D-VA] | Rep. John Conyers [D-MI] |
Rep. Elijah Cummings [D-MD] | Rep. Theodore Deutch [D-FL] | Rep. Keith Ellison [D-MN] | Rep. Zoe Lofgren [D-CA] |
Rep. Carolyn Maloney [D-NY] | Rep. James McGovern [D-MA] | Rep. Gwen Moore [D-WI] | Rep. Eleanor Norton [D-DC] |
Rep. Chellie Pingree [D-ME] | Rep. John Sarbanes [D-MD] | Rep. Janice Schakowsky [D-IL] | Rep. Louise Slaughter [D-NY] |
Rep. Dina Titus [D-NV] | Rep. Niki Tsongas [D-MA] | Rep. John Yarmuth [D-KY] | Rep. Mike Quigley [D-IL] |
Rep. William Keating [D-MA] | Rep. Kathy Castor [D-FL] | Rep. Anna Eshoo [D-CA] | Rep. Katherine Clark [D-MA] |
Rep. Mark DeSaulnier [D-CA] | Rep. Darren Soto [D-FL] | Rep. Peter DeFazio [D-OR] | Rep. Ruben Gallego [D-AZ] |
Rep. Gene Green [D-TX] | Rep. James Langevin [D-RI] | Rep. Steve Cohen [D-TN] | Rep. Robin Kelly [D-IL] |
Rep. Grace Meng [D-NY] | Rep. Jerrold Nadler [D-NY] | Sen. Peter Welch [D-VT] | Rep. Ron Kind [D-WI] |
Rep. Grace Napolitano [D-CA] | Rep. Mark Pocan [D-WI] | Rep. Richard Nolan [D-MN] |
History
Date | Chamber | Action |
---|---|---|
2017-01-09 | House | Referred to the House Committee on Financial Services. |
2017-01-09 | House | Introduced in House |
Same As/Similar To
SB1726 (Related) 2017-08-02 - Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
HB5670 (Related) 2018-05-01 - Referred to the House Committee on Financial Services.
HB5670 (Related) 2018-05-01 - Referred to the House Committee on Financial Services.
Subjects
Administrative law and regulatory procedures
Civil actions and liability
Congressional oversight
Corporate finance and management
Elections, voting, political campaign regulation
Finance and financial sector
Financial services and investments
Government information and archives
Government studies and investigations
Securities
Securities and Exchange Commission (SEC)
Civil actions and liability
Congressional oversight
Corporate finance and management
Elections, voting, political campaign regulation
Finance and financial sector
Financial services and investments
Government information and archives
Government studies and investigations
Securities
Securities and Exchange Commission (SEC)
US Congress State Sources
Type | Source |
---|---|
Summary | https://www.congress.gov/bill/115th-congress/house-bill/376/all-info |
Text | https://www.congress.gov/115/bills/hr376/BILLS-115hr376ih.pdf |