HR-6967 — Public Company Advisory Committee Act of 2026

This bill has advanced since we wrote our summary.

Current stage on Congress.gov: Reported in House.

YourVoice.Now SummaryCorporate BenefitsTransparency & Accountability

The Securities and Exchange Commission already has advisory committees for small businesses and investors, but not one focused specifically on public companies — the firms whose shares trade on stock exchanges. This bill creates a 10- to 20-member Public Company Advisory Committee made mostly of corporate executives and their advisers (lawyers, accountants, investment bankers) to recommend changes to SEC rules on corporate disclosure, proxy voting, and capital formation. At least half of the members would come from public companies themselves. Investor advocates worry it gives the businesses regulated by the SEC a dedicated line of influence.

Corporate Benefits

Regulated-industry seats on SEC advisory body — At least 50% of Public Company Advisory Committee drawn from public-company officers
Industry-adviser eligibility — Attorneys, accountants, investment bankers, and trade-association executives also eligible

Transparency & Accountability

FACA application to the new committee — Federal Advisory Committee Act exempted under section (h)
SEC public-statement requirement — Commission must promptly assess each Committee finding and disclose intended action

Congressional Summary

This bill establishes the Public Company Advisory Committee within the Securities and Exchange Commission (SEC).The committee must advise the SEC on regulatory priorities, public reporting and corporate governance of public companies, shareholder meetings and the proxy process, and other topics. The committee must be comprised of individuals who are officers, directors, or senior officials of public companies; have senior managerial responsibility in associations that represent the interests of public companies; or provide professional advice and services to public companies.

Legislative Subjects

Administrative law and regulatory proceduresAdvisory bodiesPublic-private cooperationSecuritiesSecurities and Exchange Commission (SEC)

Details

Congress: 119th
Chamber: House
Status: summarized
Action: Placed on the Union Calendar, Calendar No. 479.
Action Date: 2026-03-19
Date Added: 2026-04-19
Source: Congress.gov →

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