Improving Corporate Governance Through Diversity Act of 2021
Latest action · Jan 20, 2022 Placed on the Union Calendar, Calendar No. 164.
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.
- IntroducedFeb 24, 2021
- Passed HouseNot reached
- Passed SenateNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Improving Corporate Governance Through Diversity Act of 2021
This bill requires certain issuers of securities to disclose the racial, ethnic, and gender composition of their boards of directors and executive officers, as well as the status of any of those directors and officers as a veteran. It also requires the disclosure of any plan to promote racial, ethnic, and gender diversity among these groups.
The Securities and Exchange Commission must establish a Diversity Advisory Group to report on strategies to increase gender, racial, and ethnic diversity among board members.
Cosponsors 12
Members who signed on, in the order they did. Signatures ran from Feb 24, 2021 to Jul 28, 2021; 1 is an original cosponsor, there from the day it was introduced.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| D-NY | Carolyn B. Maloney | Original | Feb 24, 2021 |
| D-NC | Alma S. Adams | Mar 26, 2021 | |
| D-TX | Joaquin Castro | Mar 26, 2021 | |
| D-NJ | Josh Gottheimer | Mar 26, 2021 | |
| D-GA | Lucy McBath | Mar 26, 2021 | |
| D-NV | Susie Lee | Mar 26, 2021 | |
| D-CA | Brad Sherman | Apr 19, 2021 | |
| D-PA | Chrissy Houlahan | Apr 19, 2021 | |
| D-GA | Nikema Williams | Apr 19, 2021 | |
| D-NY | Antonio Delgado | Jul 20, 2021 | |
| D-CA | Jared Huffman | Jul 20, 2021 | |
| D-NJ | Mikie Sherrill | Jul 28, 2021 |
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 Feb 24, 2021Markup Apr 20, 2021Markup Apr 21, 2021Reported Jan 20, 2022 |
Actions 7
Everything that happened, newest first.
- Jan 20, 2022Reported (Amended) by the Committee on Financial Services. H. Rept. 117-230.
- Jan 20, 2022Placed on the Union Calendar, Calendar No. 164.
- Apr 21, 2021Committee Consideration and Mark-up Session Held.
- Apr 21, 2021Ordered to be Reported (Amended) by Voice Vote.
- Apr 20, 2021Committee Consideration and Mark-up Session Held.
- Feb 24, 2021Introduced in House
- Feb 24, 2021Referred to the House Committee on Financial Services.
Research
What has been written about this bill: committee reports, cost estimates, the sponsor’s authority statement, printed hearings and the Congressional Research Service’s work.
Committee report
Congressional Budget Office cost estimate
- May 25, 2021H.R. 1277, Improving Corporate Governance Through Diversity Act of 2021As ordered reported by the House Committee on Financial Services on April 21, 2021
Constitutional authority
The sponsor’s statement, as printed in the Congressional Record, vol. 167, no. 35, February 24, 2021, page H617.
Printed hearings 2
Hearings whose printed record names this bill, newest first: hearings on it, and wider hearings where it came up.
| Number | Hearing | Committee | Held |
|---|---|---|---|
| Serial No. 117-99 | A REVIEW OF DIVERSITY AND INCLUSION AT AMERICA'S LARGEST INSURANCE COMPANIES94 pages | Financial Services Committee | Sep 20, 2022 |
| Serial No. 117-11 | BY THE NUMBERS: HOW DIVERSITY DATA CAN MEASURE COMMITMENT TO DIVERSITY, EQUITY, AND INCLUSION274 pages | Financial Services Committee | Mar 18, 2021 |
CRS reports 1
Congressional Research Service work that CRS links to this bill or the law it became, newest first.
Cite it 1
Products on other subjects that cite it, usually among other measures.
| Product | Title | Kind | Published |
|---|---|---|---|
| TE10080 | A Review of Diversity and Inclusion at America’s Largest Insurance Companies | Testimony | Sep 20, 2022 |
Related bills 4
Companion bills and other measures the record links to this one.
| Bill | Title | Relationship | Latest action |
|---|---|---|---|
| S 374 | Improving Corporate Governance Through Diversity Act of 2021 | Identical bill | Sep 15, 2022 |
| HR 1187 | Corporate Governance Improvement and Investor Protection Act | Related bill | Jun 17, 2021 |
| HR 2543 | Financial Services Racial Equity, Inclusion, and Economic Justice Act | Related bill | Jun 21, 2022 |
| HR 4177 | Improving Corporate Governance Through Diversity Act of 2023 | Reintroduced Bill | Jun 15, 2023 |
Titles 3
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 submission by issuers of data relating to diversity, and for other purposes.
- Short Title(s) as Introduced
- Improving Corporate Governance Through Diversity Act of 2021
- Short Title(s) as Reported to House
- Improving Corporate Governance Through Diversity Act of 2021
Subjects
Assigned by the Library of Congress. Policy area: Finance and Financial Sector.
- Advisory bodies
- Business records
- Congressional oversight
- Corporate finance and management
- Employment discrimination and employee rights
- Finance and Financial Sector
- Government information and archives
- Government studies and investigations
- Minority employment
- Racial and ethnic relations
- Securities
- Sex, gender, sexual orientation discrimination
- Veterans' education, employment, rehabilitation
- Women in business
- Women's employment
Text 2
Each version as it was printed, newest first.
- Jan 20, 2022Reported in House
- Feb 24, 2021Introduced 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.
