Congress is out of session until Monday, November 9 for the midterm campaign. No new roll-call votes until then; the last were the House on Sep 16 and the Senate on Sep 30.

H.R. 4628 · 118th Congress · Finance and Financial Sector

To amend the Securities Exchange Act of 1934 to require the Securities and Exchange Commission to disclose and report on non-material disclosure mandates, and for other purposes.

Died in committee148 words Introduced Jul 13, 2023 · Latest action Jul 13, 2023

FollowRead the text
How far it has goneStopped at 2 of 6 · Died in committee
  1. IntroducedJul 13, 2023 Done
  2. CommitteeDied Jan 3, 2025 Stopped here
  3. House floorNot yet Not reached yet
  4. Senate floorNot yet Not reached yet
  5. Chambers agreeNot yet Not reached yet
  6. PresidentNot yet Not reached yet

What it does

This bill requires the Securities and Exchange Commission (SEC) to report on its website each required disclosure of nonmaterial information under federal securities laws and regulations and a justification for the disclosure. The SEC must also report this information to Congress every five years.

The bill also establishes that a person's failure to disclose such nonmaterial information is not a liability in a private action.

Congressional Research Service · summary of “Introduced in House” version · Jul 13, 2023

Who lobbies on it

3 organizations · 14 filings · Q3 2023–Q4 2024

One square per quarter since introduction, oldest left. Filled = named it that quarter.

  1. American Property Casualty Insurance Association 6 of 6 quarters
    “H.R. 448 Proxy Advisory Firms **Issues lobbied without specific bill number: Climate Change Disclosures S. 1799 Proxy Advisory Firms H.R. 4589 Proxy Advisor Registration H.R. 4590 Proxy Advisor Firms H.R. 4628 Proxy Advisor Disclosure H.R. 4640 Proxy Advisor Disclosure H.R. 4641 Shareholder Proposals H.R. 4645 Proxy…”

    Q4 2024 filing · $5.6M lobbying spend in 2024, all issues

  2. National Association of Manufacturers 1 of 6 quarters
    “Beneficial Ownership Capital Formation Climate Disclosures ESG Disclosures FAR Proposal re: Federal Contractor Climate Disclosures H.R. 4161, Performance Over Politics H.R. 4168, Mandatory Materiality Requirement H.R. 4589, Registration of Proxy Advisory Firms H.R. 4590, Liability for Certain Failures to Disclose…”

    Q3 2023 filing · $12.0M lobbying spend in 2023, all issues

  3. Investment Company Institute 1 of 6 quarters
    “H.R. 448, Putting Investors First Act of 2023 H.R. 500, Financial Exploitation Prevention Act of 2023 H.R. 760, Chinese Military and Surveillance Company Sanctions Act of 2023 H.R. 1807, Improving Disclosure for Investors Act of 2023 H.R. 2627, Increasing Investor Opportunities Act H.R. 3063, Retirement Fairness for…”

    Q3 2023 filing · $5.0M lobbying spend in 2023, all issues

Organizations that named H.R. 4628 in a quarterly lobbying report. Covers organizations with a PAC on file; reports from organizations without one aren’t loaded yet. Spend is the organization’s total across all issues: reports don’t split spending by bill. Source: Senate lobbying disclosures (LD-2) from lda.gov; quotes are word for word from the “specific lobbying issues” field.

Actions

2 actions · newest first
  1. Jul 13, 2023Referred to the House Committee on Financial Services.
  2. Jul 13, 2023Introduced in House