I 
116TH CONGRESS 
1ST SESSION H. R. 3624 
To amend the Securities Exchange Act of 1934 to require the disclosure 
of the total number of domestic and foreign employees of certain public 
companies, and for other purposes. 
IN THE HOUSE OF REPRESENTATIVES 
JULY 5, 2019 
Mrs. AXNE (for herself and Mr. MCNERNEY) introduced the following bill; 
which was referred to the Committee on Financial Services 
A BILL 
To amend the Securities Exchange Act of 1934 to require 
the disclosure of the total number of domestic and for-
eign employees of certain public companies, and for other 
purposes. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Outsourcing Account-
ability Act of 2019’’. 
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SEC. 2. REQUIRED DISCLOSURE OF NUMBER OF DOMESTIC 
AND FOREIGN EMPLOYEES. 
Section 13 of the Securities Exchange Act of 1934 
(15 U.S.C. 78m) is amended by adding at the end the 
following: 
‘‘(s) DISCLOSURE OF NUMBER OF DOMESTIC AND 
FOREIGN EMPLOYEES.— 
‘‘(1) DEFINITION.—In this subsection, the term 
‘covered subsidiary’ means, with respect to an issuer, 
any subsidiary of the issuer that is— 
‘‘(A) a consolidated subsidiary; or 
‘‘(B) a subsidiary with respect to which the 
issuer accounts for the investment of the issuer 
by using the equity method of accounting. 
‘‘(2) REQUIREMENT.—Except as provided in 
paragraph (3), beginning in the first full fiscal year 
that begins after the date of enactment of this sub-
section, each issuer that is required to file a report 
with the Commission under subsection (a) shall dis-
close annually to the Commission and to share-
holders of the issuer— 
‘‘(A) the total number of employees of the 
issuer and covered subsidiaries with respect to 
the issuer who are domiciled in the United 
States, listed by number in each State; 
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‘‘(B) the total number of employees of the 
issuer who physically work in and are domiciled 
in any country other than the United States, 
listed by number in each country; 
‘‘(C) the total number of employees of cov-
ered subsidiaries with respect to the issuer who 
physically work in and are domiciled in any 
country other than the United States, listed by 
the number of employees at each such covered 
subsidiary in each such country; and 
‘‘(D) as compared with the previous re-
porting year, the percentage amount by which 
the numbers described in subparagraphs (A), 
(B), and (C) increased or decreased with re-
spect to the applicable number. 
‘‘(3) EXEMPTION FOR EMERGING GROWTH COM-
PANIES.—An emerging growth company shall not be 
subject to paragraph (2). 
‘‘(4) RULES.—The Commission may promul-
gate such rules as the Commission considers nec-
essary to implement the requirement under para-
graph (2).’’. 
Æ 
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