Bill · H.R. 6967· House(119-HR-6967)
Public Company Advisory Committee Act of 2026
- Introduced
- 1/7/2026
- Last activity
- 3/19/2026 — Placed on the Union Calendar, Calendar No. 479.
- Sponsored by
- Frank Lucas
- Cosponsors
- - 0 - 1
- Introduced
- On Calendar
What this bill would do
This bill, known as the "Public Company Advisory Committee Act of 2026," seeks to amend the Securities Exchange Act of 1934. It proposes the creation of a Public Company Advisory Committee within the Securities and Exchange Commission. The Committee is designed to advise the Commission on various topics, including corporate governance, proxy processes, and capital formation. Membership will consist of 10 to 20 individuals, including officers of public companies and professional advisers. The bill establishes guidelines for terms, leadership roles, and meeting frequencies. Finally, it mandates that the Commission review and publicly respond to the Committee's findings.
Yes· 3 of 6
Would business owners be better off under this?+5
The committee provides a formal mechanism for corporate officers and industry associations to advise on regulatory priorities.
Does this make what the government does easier for the public to see?+4
The bill requires the Commission to issue public statements assessing and disclosing its intended actions regarding committee findings.
Is this likely to grow the economy?+3
The committee is tasked with providing advice to facilitate capital formation.
The opposite
No question was scored the opposite.
Who it would affect, and how
Potential Positive Impacts for People
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Expert Advice on Markets: The Committee will provide advice on rules and regulations regarding protecting investors, maintaining efficient markets, and facilitating capital formation (Section 2(a)(2)(A)). This could help ensure the Commission receives specialized input on these critical areas.
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Increased Transparency of Commission Responses: The Commission is required to promptly issue a public statement assessing the Committee's findings and disclosing any intended actions (Section 2(f)). This could provide the public with clarity on how the Commission views the Committee's recommendations.
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Structured Input for Regulatory Changes: The Committee is authorized to submit recommendations for proposed regulatory and legislative changes (Section 2(a)(2)(C)). This provides a formal channel for expertise to reach the Commission.
Potential Negative Impacts for People
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Limitations on Advisory Scope: The Committee is explicitly prohibited from providing any advice regarding the Commission's enforcement program (Section 2(a)(2)(B)). This means certain critical regulatory actions will not be subject to this specific advisory body's input.
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Exclusion of Certain Entities: Public companies that own asset management, fixed income, investment advisory, broker-dealer, or proxy services businesses are excluded from being represented by their officers or directors on the Committee (Section 2(b)(1)(A)).
Groups and Interests Ranking
Every group the model scored this bill for, from -10 to +10. Hover a score for the reason it gave.
- Demographic And Interest Groups
- Good For Business Owners+5Good For High Income Households+2
- Economy And Finance
- Improves Economic Growth+3Improves Consumer Protection+2Improves Small Business Support+1
- Governance And Ideology
- Improves Government Transparency+4
- 3/19/2026
- Reported (Amended) by the Committee on Financial Services. H. Rept. 119-557.
- Placed on the Union Calendar, Calendar No. 479.
- 1/22/2026
- Committee Consideration and Mark-up Session Held
- Ordered to be Reported (Amended) by the Yeas and Nays: 39 - 15.
- 1/7/2026
- Referred to the House Committee on Financial Services.
- 1 Cosponsor added.
- Introduced in House
One bill Congress.gov lists as related to this one — companions in the other chamber, earlier versions, and bills this one absorbed or was folded into.
Brittany PettersenDemocrat · Colorado