Sec. 3. Submission of data relating to diversity by issuers
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/bill/115/hr/970/ih/section-3A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Section 13 of the Securities Exchange Act of 1934 ( 15 U.S.C. 78m ) is amended by adding at the end the following: Each issuer required to file an annual report under subsection
(a)shall disclose in that report, the following: Data on the racial, ethnic, and gender composition of the board of directors and the C-level executives of the issuer. Data on the affiliation of any member of the board of directors or any C-level executive of the issuer to a historically underrepresented group, including veterans of the Armed Forces and individuals with disabilities. Any plan or strategy that exists on the date of the submission of data under this paragraph to improve the diversity of the board of directors or the C-level executives of the issuer. In this subsection, the term C-level executive means the most senior executive officer, information officer, technology officer, financial officer, compliance officer, or security officer of an issuer. . Not later than 90 days after the date of the enactment of this Act, the Securities and Exchange Commission shall revise paragraph
(v)of section 229.407(c)(2) of title 17, Code of Federal Regulations, to require that when the description described in such paragraph is presented in a proxy or information statement relating to the election of directors, the qualities and skills described in such paragraph, along with the nominee’s gender, race, ethnicity, and affiliation with a historically underrepresented group should be presented in a chart or matrix form.
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Sec. 3
Submission of data relating to diversity by issuers
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