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119th Congress
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HOUSEH.R. 6967· 119th Congress

Bill Creates SEC Advisory Committee for Public Companies

Public Company Advisory Committee Act of 2026

Sponsor
Frank Lucas (R-OK)
Introduced
Jan 7, 2026
Last Action
Mar 19, 2026

Recorded legislative actions. Future votes are not implied.

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Introduced
Jan 7, 2026
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In Committee
Jan 7, 2026
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Passed Committee
Jan 22, 2026

AI-assisted analysis based on the official CRS summary. Source version: Apr 17, 2026. Analysis updated: Sep 15, 2026.

01 — The Text

What.

  • Establishes a Public Company Advisory Committee within the SEC
  • Committee members must be officers, directors, or senior officials of public companies; senior managers in public company trade associations; or professional advisors to public companies
  • Committee is tasked with advising the SEC on regulatory priorities affecting public companies
  • Committee scope includes advising on public reporting, corporate governance, shareholder meetings, and the proxy process
  • Committee may advise on other topics beyond those specified
02 — The Stakes

So what?

  • The bill creates a formal advisory body but does not specify the committee's binding authority or weight its recommendations carry in SEC decision-making
  • The official summary does not establish measurable effects, timelines for advice, or documented outcomes from advisory committee recommendations
  • Composition focuses on industry participants and their representatives, but the summary does not detail how this composition affects regulatory balance or investor protections
03 — The Path

Now what?

  • House Committee on Financial Services reported an amended version on March 19, 2026 (H. Rept. 119-557)
  • Bill was placed on Union Calendar as Calendar No. 479 on March 19, 2026
  • Committee approved the amended bill by vote (39-15) on January 22, 2026
  • No recorded scheduled votes or committee actions documented after March 19, 2026
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