To amend the Securities Exchange Act of 1934 to require the disclosure of proxy votes relating to executive and director compensation by beneficial owners of more than 5 percent of a company's shares.
Latest action · Jun 6, 2007 Referred to the House Committee on Financial Services.
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedJun 6, 2007
- Passed HouseNot reached
- Passed SenateNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Amends the Securities Exchange Act of 1943 to require certain persons acquiring more than 5% of certain classes of securities to report to the security issuer and to the exchange where the security is traded: (1) how the votes for such shares were cast on any proxy or consent or authorization in respect of any such security relating to executive and director compensation proposals, including a description of the matter voted on; and (2) a description of any relationship between the person filing the statement and the security issuer, or between the person filing the statement and any other person required to file a statement regarding such securities.
Directs the Securities and Exchanges Commission (SEC) to promulgate a requirement that such information be updated annually.
Cosponsors 1
Members who signed on, in the order they did. All signed on Jun 6, 2007.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| R-DE | Michael N. Castle | Original | Jun 6, 2007 |
Committees 1
Where it was sent and what each committee and subcommittee did with it, in order.
| Chamber | Committee | What it did |
|---|---|---|
| House | Financial Services Committee | Referred Jun 6, 2007 |
Actions 2
Everything that happened, newest first.
- Jun 6, 2007Introduced in House
- Jun 6, 2007Referred to the House Committee on Financial Services.
Titles 1
Every title it has carried, official and short, at each stage.
- Official Title as Introduced
- To amend the Securities Exchange Act of 1934 to require the disclosure of proxy votes relating to executive and director compensation by beneficial owners of more than 5 percent of a company's shares.
Subjects
Assigned by the Library of Congress. Policy area: Finance and Financial Sector.
Text 1
Each version as it was printed, newest first.
- Jun 6, 2007Introduced in House
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov; cost estimates are the Congressional Budget Office's, and the hearings are the printed hearings GovInfo publishes, which can appear months after the hearing.
