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[Congressional Bills 114th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4718 Introduced in House (IH)]

<DOC>

114th CONGRESS
  2d Session
                                H. R. 4718

To require the Securities and Exchange Commission to establish a Gender 
     Diversity Advisory Group to study and make recommendations on 
strategies to increase gender diversity among the members of the board 
 of directors of issuers, to amend the Securities Exchange Act of 1934 
to require issuers to make disclosures to shareholders with respect to 
               gender diversity, and for other purposes.

_______________________________________________________________________

                    IN THE HOUSE OF REPRESENTATIVES

                             March 7, 2016

 Mrs. Carolyn B. Maloney of New York (for herself, Mr. Beyer, and Mrs. 
   Dingell) introduced the following bill; which was referred to the 
                    Committee on Financial Services

_______________________________________________________________________

                                 A BILL

 
To require the Securities and Exchange Commission to establish a Gender 
     Diversity Advisory Group to study and make recommendations on 
strategies to increase gender diversity among the members of the board 
 of directors of issuers, to amend the Securities Exchange Act of 1934 
to require issuers to make disclosures to shareholders with respect to 
               gender diversity, and for other purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Gender Diversity in Corporate 
Leadership Act of 2016''.

SEC. 2. GENDER DIVERSITY STUDY AND DISCLOSURES.

    (a) Gender Diversity Advisory Group.--
            (1) Establishment.--The Securities and Exchange Commission 
        shall establish a Gender Diversity Advisory Group (the 
        ``Advisory Group''), which shall be composed of representatives 
        from the Government, academia, and the private sector.
            (2) Study and recommendations.--The Advisory Group shall--
                    (A) carry out a study on strategies to increase 
                gender diversity among the members of the board of 
                directors of issuers; and
                    (B) not later than 9 months after the establishment 
                of the Advisory Group, issue a report to the 
                Commission, the Committee on Financial Services of the 
                House of Representatives, and the Committee on Banking, 
                Housing, and Urban Affairs of the Senate containing the 
                findings and determinations made in carrying out such 
                study, along with recommendations to increase gender 
                diversity among the members of the board of directors 
                of issuers.
            (3) Annual report.--Not later than 1 year following the 
        issuance of the report under paragraph (2)(B), and annually 
        thereafter, the Commission shall issue a report to the 
        Committee on Financial Services of the House of Representatives 
        and the Committee on Banking, Housing, and Urban Affairs of the 
        Senate on the status of gender diversity among the members of 
        the board of directors of issuers.
            (4) Public availability of reports.--The Commission shall 
        make all reports of the Advisory Group available to issuers and 
        the public, including on the website of the Commission.
    (b) Disclosures.--The Securities Exchange Act of 1934 (15 U.S.C. 
78a et seq.) is amended by inserting after section 14B the following:

``SEC. 14C. GENDER DIVERSITY DISCLOSURES.

    ``The Commission shall, by rule, require each issuer to disclose, 
in any proxy or consent solicitation material for an annual meeting of 
the shareholders of the issuer, the gender composition of the issuer's 
board of directors and nominees for the board of directors.''.
                                 <all>
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