summary
Introduced
03/02/2020
03/02/2020
In Committee
03/02/2020
03/02/2020
Crossed Over
Passed
Dead
12/31/2020
12/31/2020
Introduced Session
116th Congress
Bill Summary
A bill 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 2020, 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). The bill 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 in any proxy or consent solicitation material for an annual shareholders' meeting. The Diversity Advisory Group, composed of representatives from the government, academia, and the private sector, will study and report on strategies to increase diversity on corporate boards, and the SEC will annually report on the status of diversity among issuers' board members.
Committee Categories
Housing and Urban Affairs
Sponsors (7)
Catherine Cortez Masto (D)*,
Tammy Duckworth (D),
Dianne Feinstein (D),
Amy Klobuchar (D),
Jacky Rosen (D),
Tina Smith (D),
Chris Van Hollen (D),
Last Action
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (on 03/02/2020)
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/senate-bill/3367/all-info |
| BillText | https://www.congress.gov/116/bills/s3367/BILLS-116s3367is.pdf |
| Bill | https://www.congress.gov/116/bills/s3367/BILLS-116s3367is.pdf.pdf |
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