House Bill 6371
116th Congress(2019-2020)
To amend the Securities Exchange Act of 1934 to require issuers to disclose risks related to global pandemics, and for other purposes.
Introduced
Introduced in House on Mar 23, 2020
Origin Chamber
House
Type
Bill
Bill
The primary form of legislative measure used to propose law. Depending on the chamber of origin, bills begin with a designation of either H.R. or S. Joint resolution is another form of legislative measure used to propose law.
Bill Number
6371
Congress
116
Policy Area
Finance and Financial Sector
Finance and Financial Sector
Primary focus of measure is U.S. banking and financial institutions regulation; consumer credit; bankruptcy and debt collection; financial services and investments; insurance; securities; real estate transactions; currency. Measures concerning financial crimes may fall under Crime and Law Enforcement. Measures concerning business and corporate finance may fall under Commerce policy area. Measures concerning international banking may fall under Foreign Trade and International Finance policy area.
No House votes have been held for this bill.
Summary
This bill requires certain issuers of securities to report to the Securities and Exchange Commission (SEC), during a global pandemic, information related to risks faced by the issuer. Specifically, if the World Health Organization declares a pandemic, an issuer must disclose to the SEC
- risks faced by the issuer, including risks to health and safety faced by employees and independent contractors;
- mitigation measures, including those taken to protect the workforce's wages, health care, and leave; and
- the effect the pandemic may have on the issuer's business, solvency, and workforce.
The SEC must make such reports publicly available on its website.
March 23, 2020
03/23/2020
Referred to the House Committee on Financial Services.
03/23/2020
Introduced in House
Public Record
Record Updated
Feb 8, 2022 11:17:26 PM