Gender Diversity in Corporate Leadership Act of 2016

Bill: 114-hr-4718
Sponsor: full_name: Rep. Maloney, Carolyn B. [D-NY-12]
Introduced: 2016-03-07
Policy area: Finance and Financial Sector
Subjects: Advisory bodies

Congressional oversight

Corporate finance and management

Employment discrimination and employee rights

Executive agency funding and structure

Government studies and investigations

Securities

Securities and Exchange Commission (SEC)

Sex, gender, sexual orientation discrimination
Latest action: action_date: 2016-03-07
text: Referred to the House Committee on Financial Services.

Summaries:
action_date: 2016-03-07
action_desc: Introduced in House
text: <p><b>Gender Diversity in Corporate Leadership Act of 2016</b></p> <p>This bill directs the Securities and Exchange Commission (SEC) to establish a Gender Diversity Advisory Group, composed of government, academic, and private sector representatives, to study strategies to increase gender diversity among the members of the boards of directors of issuers.</p> <p>The Securities Exchange Act of 1934 is amended to direct the SEC, by rule, to require each issuer to disclose, in any proxy or consent solicitation material for an annual shareholders meeting, the gender composition of the issuer's board of directors and nominees for it.</p>

tv_txt: I 114th CONGRESS 2d Session H. R. 4718 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.

1. Short title This Act may be cited as the Gender Diversity in Corporate Leadership Act of 2016 . 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: 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. .