summary
Introduced
06/13/2019
06/13/2019
In Committee
07/11/2019
07/11/2019
Crossed Over
Passed
Dead
12/31/2020
12/31/2020
Introduced Session
116th Congress
Bill Summary
To require the Securities and Exchange Commission to establish a Diversity Advisory Group to study and make recommendations on strategies to increase gender, racial, and ethnic diversity among the members of the board of directors of issuers, to amend the Securities Exchange Act of 1934 to require issuers to make disclosures to shareholders with respect to gender, racial, and ethnic diversity, and for other purposes. This bill requires each issuer to disclose, in any proxy or consent solicitation material for an annual shareholders meeting, the gender, racial, and ethnic composition of its board of directors and nominees for board membership. The Securities and Exchange Commission shall establish a Diversity Advisory Group, composed of government, academic, and private-sector representatives, to study strategies for increasing gender, racial, and ethnic diversity among the members of issuers' boards of directors.
AI Summary
This bill, the Diversity in Corporate Leadership Act of 2019, requires the Securities and Exchange Commission (SEC) to establish a Diversity Advisory Group to study and make recommendations on strategies to increase gender, racial, and ethnic diversity among the members of the board of directors of public companies (issuers). It also amends the Securities Exchange Act of 1934 to require issuers to disclose the gender, racial, and ethnic composition of their board of directors and nominees for the board in any proxy or consent solicitation material for an annual shareholders' meeting. The Diversity Advisory Group will issue a report with its findings and recommendations within 9 months, and the SEC will then issue annual reports on the status of diversity among issuers' boards of directors.
Committee Categories
Business and Industry
Sponsors (4)
Last Action
Ordered to be Reported (Amended) by the Yeas and Nays: 52 - 6. (on 07/11/2019)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.congress.gov/bill/116th-congress/house-bill/3279/all-info |
| BillText | https://www.congress.gov/116/bills/hr3279/BILLS-116hr3279ih.pdf |
| Bill | https://www.congress.gov/116/bills/hr3279/BILLS-116hr3279ih.pdf.pdf |
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