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 advisory body within the Securities and Exchange Commission (SEC) called the Public Company Advisory Committee. 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. Importantly, the Committee will not offer advice on the SEC's enforcement actions. The Committee will consist of 10 to 20 members appointed by the SEC, who must be officers, directors, or senior officials of public companies, or representatives from business associations that represent public companies, or professional advisors to public companies, with at least half of the members coming directly from public companies. Members will serve four-year terms, and the Committee will meet at least twice annually, with the ability to form subcommittees. Members will receive compensation and travel expenses when performing their duties, and the SEC will provide staff support. The SEC is required to review the Committee's findings and recommendations and publicly state its assessment and intended actions. The bill also clarifies that the Committee's findings and recommendations are not binding on the SEC and that certain federal advisory committee laws will not apply to this new body.

Business and Industry

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