Bill > HR6967

This bill, titled the "Public Company Advisory Committee Act of 2026," proposes to amend the Securities Exchange Act of 1934 to establish a new Public Company Advisory Committee within the Securities and Exchange Commission (SEC). The committee's primary purpose is to advise the SEC on rules, regulations, and policies related to protecting investors, maintaining fair markets, and facilitating capital formation, specifically concerning public companies' reporting, corporate governance, proxy processes, trading, and capital formation issues, while explicitly excluding advice on the SEC's enforcement program. The committee will consist of 10 to 20 members appointed by the SEC, with at least half being officers, directors, or senior officials of public companies (excluding those in certain financial services businesses), and others from industry associations representing public companies, or professional advisors like attorneys and accountants. Members will serve four-year staggered terms, and individuals or organizations already represented on other SEC advisory committees are ineligible. The committee will elect its own Chair, Vice Chair, Secretary, and Assistant Secretary, and may form subcommittees. It is required to meet at least twice a year and will receive necessary staff support from the SEC. The SEC must review the committee's findings and recommendations and publicly state its assessment and intended actions. Importantly, the committee's findings and recommendations are not binding on the SEC, and the Federal Advisory Committee Act (FACA), which governs advisory committees, will not apply to this new committee.

Business and Industry

https://www.congress.gov/bill/119th-congress/house-bill/6967/all-info