01 — The Text
What.
- Creates a new advisory committee within the SEC to guide regulatory decisions on public companies.
- Committee members must be company officers, directors, or work for business associations and professional advisors.
- Committee advises on SEC priorities, corporate reporting, governance rules, shareholder meetings, and proxy voting processes.
02 — The Stakes
So what?
- Public companies gain direct influence over SEC rule-making through their representatives on the advisory panel.
- Investors and workers may see rules shaped more by company interests than independent perspectives.
- The SEC gets insider expertise but risks appearing captured by the industry it regulates.
03 — The Path
Now what?
- Bill passed House Financial Services Committee in March 2026; now awaits full House floor vote.
- If approved by House, it must pass Senate and reach President Biden's desk to become law.
- Monitor House.gov votes or contact your representative to signal support or opposition before floor action.
Legislative History
Actions.
- Mar 19, 2026 — Placed on the Union Calendar, Calendar No. 479.
- Mar 19, 2026 — Reported (Amended) by the Committee on Financial Services. H. Rept. 119-557.
- Mar 19, 2026 — Reported (Amended) by the Committee on Financial Services. H. Rept. 119-557.
- Jan 22, 2026 — Ordered to be Reported (Amended) by the Yeas and Nays: 39 - 15.
- Jan 22, 2026 — Committee Consideration and Mark-up Session Held
- Jan 7, 2026 — Referred to the House Committee on Financial Services.
- Jan 7, 2026 — Introduced in House
- Jan 7, 2026 — Introduced in House