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S. 3203 · 118th Congress · Finance and Financial Sector

Index Provider Transparency and Accountability Act

Died in committee769 words Introduced Nov 2, 2023 · Latest action Nov 2, 2023

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

What it does

This bill establishes requirements for an investment company related to its (1) use of market indices, and (2) investment in Chinese securities.

The bill requires an investment company to disclose information related to the company's use of a market index. (A market index is calculated based on a set of investments for the purpose of tracking the changes in the market represented by the investments. For example, the S&P 500 Index is generally used as an indicator of the U.S. stock market. Investment companies may use these indices for developing index funds, among other uses.) Specifically, an investment company must disclose whether it intends to track the returns of, or benchmark against, a specific market index and if so, disclose certain interactions between the company and the index provider.

Additionally, the bill requires an authorizing vote by the board of directors of the investment company in the event of certain deviations from investment policy relating to an index, including a deviation involving securities issued by a company headquartered or incorporated in China or listed on a Chinese exchange.

Finally, an investment company must annually disclose to stockholders specific information regarding securities owned by the company and issued by a company headquartered or incorporated in China or listed on a Chinese exchange.

Congressional Research Service · summary of “Introduced in Senate” version · Nov 2, 2023

Who lobbies on it

No lobbying filing on file names S. 3203.

Organizations that named S. 3203 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. Nov 2, 2023Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
  2. Nov 2, 2023Introduced in Senate