Mandatory Materiality Requirement Act of 2022

Senate Bill 5005 - Mandatory Materiality Requirement Act of 2022: Overview, Status, and Impact

Hozzl · 2024-03-13T06:54:57Z

Explore the details of Senate Bill 5005 Mandatory Materiality Requirement Act of 2022 currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Finance and Financial Sector. Stay informed on legislative developments.

3/13/2024, 6:54 AM

Congressional Summary of S 5005

Mandatory Materiality Requirement Act of 2022

This bill limits additional disclosure requirements applicable to issuers of securities. Specifically, the Securities and Exchange Commission may only require an additional disclosure if the commission determines that there is a substantial likelihood that a reasonable investor of the issuer would consider the information important with respect to an investment decision.

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Current Status of Bill S 5005

Bill S 5005 is currently in the status of Bill Introduced since September 29, 2022. Bill S 5005 was introduced during Congress 117 and was introduced to the Senate on September 29, 2022. Bill S 5005's most recent activity was Committee on Banking, Housing, and Urban Affairs Subcommittee on Securities, Insurance, and Investment. Hearings held. as of December 13, 2022

Bipartisan Support of Bill S 5005

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 S 5005

Primary Policy Focus

Finance and Financial Sector

Potential Impact Areas

- Administrative law and regulatory procedures

- Business investment and capital

- Financial services and investments

- Securities

- Securities and Exchange Commission (SEC)

Alternate Title(s) of Bill S 5005

Mandatory Materiality Requirement Act of 2022

A bill to amend the Securities Act of 1933 to require that information required to be disclosed to the Securities and Exchange Commission by issuers be material to investors of those issuers, and for other purposes.