H.R. 4015 - 115th Congress (2017-2018) - Corporate Governance Reform and Transparency Act of 2017

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.

The SEC shall report annually on its website regarding registration applications and related matters.

Text (4)

December 21, 2017

December 20, 2017

December 7, 2017

October 11, 2017

Amendments (1)

Dec 20, 2017

Offered in House

Sponsorship

House Amendment 506

Pursuant to the provisions of H.Res. 657, the amendment in the nature of a substitute consisting of the text of Rules Committee Print 115-46 is considered as adopted.

Submitted

Actions (23)

Show Only Major Actions

12/06/2018

Committee on Banking, Housing, and Urban Affairs. Hearings held.

06/28/2018

Committee on Banking, Housing, and Urban Affairs. Hearings held.

12/21/2017

Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

12/20/2017

Motion to reconsider laid on the table Agreed to without objection.

12/20/2017

On passage Passed by the Yeas and Nays: 238 - 182 (Roll no. 702). (text: CR H10313-10315)

12/20/2017

Passed/agreed to in House: On passage Passed by the Yeas and Nays: 238 - 182 (Roll no. 702).(text: CR H10313-10315)

12/20/2017

On motion to recommit with instructions Failed by the Yeas and Nays: 189 - 231 (Roll no. 701).

12/20/2017

POSTPONED PROCEEDINGS - At the conclusion of debate on the motion to recommit with instructions, the Chair put the question on the motion and by voice vote, announced that the noes had prevailed. Mr. Sarbanes demanded the yeas and nays and the Chair postponed further proceedings on the motion to recommit with instructions until a time to be announced.

12/20/2017

The previous question on the motion to recommit with instructions was ordered without objection.

12/20/2017

DEBATE - The House proceeded with 10 minutes of debate on the motion to recommit with instructions. The instructions contained in the motion seek to require the bill to be reported back to the House with an amendment to exempt proxy voting recommendations on shareholder proposals related to political campaign contributions of a company.

12/20/2017

Mr. Sarbanes moved to recommit with instructions to the Committee on Financial Services. (text: CR H10328)

12/20/2017

The previous question was ordered pursuant to the rule.

12/20/2017

DEBATE - The House proceeded with one hour of debate on H.R. 4015.

12/20/2017

Previous question shall be considered as ordered without intervening motions except motion to recommit with or without instructions. Rule provides for one hour of general debate for each bill. The amendment in the nature of a substitute printed in H.R. 2396 shall be considered as adopted. The rule also makes in order the amendment printed in the report. An amendment in the nature of a substitute to H.R. 4015 consisting of Rules Committee Print 115-46, shall be considered as adopted.

12/20/2017

Considered under the provisions of rule H. Res. 657. (consideration: CR H10313-10330)

12/13/2017

Rule H. Res. 657 passed House.

12/12/2017

Rules Committee Resolution H. Res. 657 Reported to House. Previous question shall be considered as ordered without intervening motions except motion to recommit with or without instructions. Rule provides for one hour of general debate for each bill. The amendment in the nature of a substitute printed in H.R. 2396 shall be considered as adopted. The rule also makes in order the amendment printed in the report. An amendment in the nature of a substitute to H.R. 4015 consisting of Rules Committee Print 115-46, shall be considered as adopted.

12/07/2017

Placed on the Union Calendar, Calendar No. 333.

12/07/2017

Reported by the Committee on Financial Services. H. Rept. 115-451.

11/15/2017

Ordered to be Reported by the Yeas and Nays: 40 - 20.

11/15/2017

Committee Consideration and Mark-up Session Held.

10/11/2017

Referred to the House Committee on Financial Services.

10/11/2017

Introduced in House

Public Record

Record Updated

Jan 11, 2023 1:38:27 PM