Corporate Governance Improvement and Investor Protection Act

Hozzl · 2023-03-08T20:11:58Z

Explore the details of House Bill 1187 Corporate Governance Improvement and Investor Protection Act currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Finance and Financial Sector. Stay informed on legislative developments.

3/8/2023, 8:11 PM

Summary of Bill HR 1187

Bill 117 HR 1187, also known as the Corporate Governance Improvement and Investor Protection Act, aims to enhance transparency and accountability within corporations to better protect the interests of investors. The bill includes provisions that require public companies to disclose more information about their corporate governance practices, such as the composition of their boards of directors and executive compensation packages.

Additionally, the bill seeks to strengthen shareholder rights by giving investors more say in important corporate decisions, such as mergers and acquisitions. It also includes measures to prevent insider trading and other forms of corporate misconduct.

Overall, the Corporate Governance Improvement and Investor Protection Act is designed to promote good corporate governance practices and ensure that investors are adequately protected from fraud and abuse. It represents a bipartisan effort to strengthen the integrity of the US financial markets and promote a fair and transparent business environment.

Congressional Summary of HR 1187

Corporate Governance Improvement and Investor Protection Act

This bill requires publicly traded companies to periodically disclose information related to

environmental, social, and governance performance metrics;
expenditures for certain political activities;
compensation information regarding executive officers and employees;
climate change-related risks, including direct and indirect greenhouse gas emissions and fossil fuel-related assets;
tax jurisdiction, income, and assets of constituent entities on a country-by-country basis;
workforce management policies, practices, and performance;
incidents of workplace harassment and retaliation;
cybersecurity;
the demographic composition of the board of directors and executive officers; and
manufacturing activity in China's Xinjiang Uyghur Autonomous Region.

The bill also establishes the Sustainable Finance Advisory Committee that must, among other duties, recommend to the Securities and Exchange Commission (SEC) policies to facilitate the flow of capital toward environmentally sustainable investments.

The SEC must report on the viability and occurrence of shareholder collective action, particularly regarding employment, environmental, social, and governance issues.

The SEC must also report on compliance issues small businesses face with respect to disclosure requirements related to environmental, social, and governance performance metrics.

Read the Full Bill

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Current Status of Bill HR 1187

Bill HR 1187 is currently in the status of Bill Introduced since February 18, 2021. Bill HR 1187 was introduced during Congress 117 and was introduced to the House on February 18, 2021. Bill HR 1187's most recent activity was Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. as of June 17, 2021

Bipartisan Support of Bill HR 1187

Total Number of Sponsors

Democrat Sponsors

Republican Sponsors

Unaffiliated Sponsors

Total Number of Cosponsors

Democrat Cosponsors

Republican Cosponsors

Unaffiliated Cosponsors

Policy Area and Potential Impact of Bill HR 1187

Primary Policy Focus

Finance and Financial Sector

Potential Impact Areas

Administrative law and regulatory proceduresAdministrative remediesAdvisory bodiesAir qualityAlternative and renewable resourcesAsiaAssault and harassment offensesAtmospheric science and weatherBusiness ethicsBusiness investment and capitalBusiness recordsChinaClimate change and greenhouse gasesCoalComputer security and identity theftCongressional oversightContracts and agencyCorporate finance and managementDetention of personsElections, voting, political campaign regulationEmployee benefits and pensionsEmployee hiringEmployment and training programsEmployment discrimination and employee rightsEnvironmental assessment, monitoring, researchFinancial services and investmentsFraud offenses and financial crimesGovernment ethics and transparency, public corruptionGovernment information and archivesGovernment studies and investigationsHuman rightsLabor marketLabor standardsLabor-management relationsManufacturingMinority employmentOil and gasRacial and ethnic relationsReligionSecuritiesSecurities and Exchange Commission (SEC)Self-employedSex offensesSmall businessTax administration and collection, taxpayersTaxation of foreign incomeTemporary and part-time employmentUnemploymentWages and earningsWomen's employmentWorker safety and health

Alternate Title(s) of Bill HR 1187

Corporate Governance Improvement and Investor Protection ActTo provide for disclosure of additional material information about public companies and establish a Sustainable Finance Advisory Committee, and for other purposes.Shareholder Political Transparency Act of 2021Corporate Governance Improvement and Investor Protection ActClimate Risk Disclosure Act of 2021Disclosure of Tax Havens and Offshoring ActWorkforce Investment Disclosure Act of 2021Improving Corporate Governance Through Diversity Act of 2021Greater Accountability in Pay Act of 2021ESG Disclosure Simplification Act of 2021ESG Disclosure Simplification Act of 2021ESG Disclosure Simplification Act of 2021Uyghur Forced Labor Disclosure ActESG Disclosure Simplification Act of 2021Shareholder Political Transparency Act of 2021Greater Accountability in Pay Act of 2021Climate Risk Disclosure Act of 2021Workforce Investment Disclosure Act of 2021Cybersecurity Disclosure Act of 2021Improving Corporate Governance Through Diversity Act of 2021Disclosure of Tax Havens and Offshoring ActCorporate Governance Improvement and Investor Protection Act

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