H.R. 1675 - Capital Markets Improvement Act of 2016

Capital Markets Improvement Act of 2016

H.R. 1675 — 114^th Congress (2015–2016)

Summary

To direct the Securities and Exchange Commission to revise its rules so as to increase the threshold amount for requiring issuers to provide certain disclosures relating to compensatory benefit plans. (by CRS)

Learn More

At OpenCongress

Title

To direct the Securities and Exchange Commission to revise its rules so as to increase the threshold amount for requiring issuers to provide certain disclosures relating to compensatory benefit plans.

Other Titles

• Encouraging Employee Ownership Act of 2015
• Encouraging Employee Ownership Act of 2015
• Capital Markets Improvement Act of 2016
• Capital Markets Improvement Act of 2016

Sponsor

Randy Hultgren

Co-Sponsors

• John K. Delaney
• Michael G. Fitzpatrick
• Brian Higgins
• Robert Hurt
• Ron Kind
• Jared Polis
• Kyrsten Sinema
• Steve Stivers

Subjects

• Finance and financial sector
• Administrative law and regulatory procedures
• Employee benefits and pensions
• Financial services and investments
• Securities
• Securities and Exchange Commission (SEC)

Related Bills

• H.R. 37 (114^th) : Promoting Job Creation and Reducing Small Business Burdens Act
• S. 576 (114^th) : Encouraging Employee Ownership Act
• S. 1910 (114^th) : Financial Services and General Government Appropriations Act, 2016
• H.R. 686 (114^th) : Small Business Mergers, Acquisitions, Sales, and Brokerage Simplification Act of 2015
• H.R. 1912 (114^th) : Small Company Disclosure Simplification Act
• H.R. 1965 (114^th) : Small Company Disclosure Simplification Act
• H.R. 5019 (114^th) : Fair Access to Investment Research Act of 2016
• S. 1010 (114^th) : Small Business Mergers, Acquisitions, Sales, and Brokerage Simplification Act of 2015
• H.R. 2354 (114^th) : Streamlining Excessive and Costly Regulations Review Act
• H.R. 2356 (114^th) : Fair Access to Investment Research Act of 2015
• H.Res. 595 (114^th) : Providing for Consideration of the Bill (H.R. 1675) to Direct the Securities and Exchange Commission to Revise Its Rules So As to Increase the Threshold Amount for Requiring Issuers to Provide Certain Disclosures Relating to Compensatory Benefit Plans, and Providing for Consideration of the Bill (H.R. 766) to Provide Requirements for the Appropriate Federal Banking Agencies when Requesting or Ordering a Depository Institution to Terminate a Specific Customer Account, to Provide for Additional Requirements Related to Subpoenas Issued Under the Financial Institutions Reform, Recovery, and Enforcement Act of 1989, and for Other Purposes.
• S. 2132 (114^th) : An Act Making Appropriations to Stop Regulatory Excess and for Other Purposes, 2016
• H.R. 5983 (114^th) : Financial CHOICE Act of 2016

Major Actions

Introduced	3/26/2015
Referred to Committee
Amendments (5 proposed)
Passed House	2/03/2016

Bill History

• All Votes
• All Actions
• Amendments

	Chamber/Committee	Motion	Date	Result
select this vote	House	On Agreeing to the Amendment: Amendment 1 to H R 1675	2/03/2016	This motion DID NOT PASS the House 180 voted YES 243 voted NO 11 voted present/not voting
select this vote	House	On Agreeing to the Amendment: Amendment 4 to H R 1675	2/03/2016	This motion DID NOT PASS the House 194 voted YES 221 voted NO 19 voted present/not voting
select this vote	House	On Agreeing to the Amendment: Amendment 5 to H R 1675	2/03/2016	This motion DID NOT PASS the House 173 voted YES 248 voted NO 13 voted present/not voting
select this vote	House	On Motion to Recommit with Instructions: H R 1675 Encouraging Employee Ownership Act of 2015	2/03/2016	This motion DID NOT PASS the House 184 voted YES 241 voted NO 9 voted present/not voting
currently selected	House	On Passage: H R 1675 Encouraging Employee Ownership Act of 2015	2/03/2016	This bill PASSED the House 265 voted YES 159 voted NO 10 voted present/not voting
select this vote	House	On agreeing to the Huizenga (MI) amendment (A002) Agreed to by voice vote.	2/03/2016	by voice vote
select this vote	House	On agreeing to the Sherman amendment (A003) Failed by voice vote.	2/03/2016	by voice vote

	Action	Date	Description
	Introduced	3/26/2015
		3/26/2015	Referred to the House Committee on Financial Services.
		3/26/2015	Introduced in House
		4/29/2015	Hearings Held by the Subcommittee on Capital Markets and Government Sponsored Enterprises Prior to Referral.
		5/20/2015	Committee Consideration and Mark-up Session Held.
	Put on a legislative calendar	5/20/2015	Ordered to be Reported by the Yeas and Nays: 45 - 15.
		1/28/2016	Reported by the Committee on Financial Services. H. Rept. 114-398.
	Put on a legislative calendar	1/28/2016	Placed on the Union Calendar, Calendar No. 301.
		2/02/2016	Rules Committee Resolution H. Res. 595 Reported to House. Resolution provides for consideration of H.R. 1675 and H.R. 766.
		2/03/2016	Considered under the provisions of rule H. Res. 595.
		2/03/2016	Resolution provides for consideration of H.R. 1675 and H.R. 766.
		2/03/2016	House resolved itself into the Committee of the Whole House on the state of the Union pursuant to H. Res. 595 and Rule XVIII.
		2/03/2016	The Speaker designated the Honorable Glenn Thompson to act as Chairman of the Committee.
		2/03/2016	GENERAL DEBATE - The Committee of the Whole proceeded with one hour of general debate on H.R. 1675.
		2/03/2016	DEBATE - Pursuant to the provisions of H.Res. 595, the Committee of the Whole proceeded with 10 minutes of debate on the DeSaulnier amendment No. 1.
		2/03/2016	POSTPONED PROCEEDINGS - At the conclusion of debate on the DeSaulnier amendment No. 1, the Chair put the question on adoption of the amendment and by voice vote, announced that the noes had prevailed. Mr. DeSaulnier demanded a recorded vote and the Chair postponed further proceedings on the question of adoption of the amendment until a time to be announced.
		2/03/2016	DEBATE - Pursuant to the provisions of H.Res. 595, the Committee of the Whole proceeded with 10 minutes of debate on the Huizenga amendment No. 2.
		2/03/2016	DEBATE - Pursuant to the provisions of H.Res. 595, the Committee of the Whole proceeded with 10 minutes of debate on the Sherman amendment No. 3.
		2/03/2016	DEBATE - Pursuant to the provisions of H.Res. 595, the Committee of the Whole proceeded with 10 minutes of debate on the Issa amendment No. 6.
		2/03/2016	POSTPONED PROCEEDINGS - At the conclusion of debate on the Issa amendment No. 6, the Chair put the question on adoption of the amendment and by voice vote, announced that the noes had prevailed. Mr. Issa demanded a recorded vote and the Chair postponed further proceedings on the question of adoption of the amendment until a time to be announced.
		2/03/2016	DEBATE - Pursuant to the provisions of H. Res. 595, the Committee of the Whole proceeded with 10 minutes of debate on the Carolyn Maloney (NY) amendment No. 7.
		2/03/2016	POSTPONED PROCEEDINGS - At the conclusion of debate on the Carolyn Maloney amendment No. 7, the Chair put the question on adoption of the amendment and by voice vote, announced that the noes had prevailed. Mr. Ellison demanded a recorded vote and the Chair postponed further proceedings on the question of adoption of the amendment until a time to be announced.
		2/03/2016	UNFINISHED BUSINESS - The Chair announced that the unfinished business was on adoption of amendments, which had been debated earlier and on which further proceedings had been postponed.
		2/03/2016	The House rose from the Committee of the Whole House on the state of the Union to report H.R. 1675.
		2/03/2016	The previous question was ordered pursuant to the rule.
		2/03/2016	The House adopted the amendment as agreed to by the Committee of the Whole House on the state of the Union.
		2/03/2016	Ms. Frankel (FL) moved to recommit with instructions to the Committee on Financial Services.
		2/03/2016	DEBATE - The House proceeded with 10 minutes of debate on the motion to recommit with instructions. The instructions contained in the motion seek to require the bill to be reported back to the House with an amendment to insert a new section into that defines and prohibits bad actors from making use of any exemption or regulation made by the bill. The amendment also prohibits the SEC from amending or repealing any regulation if it would weaken the protections for American seniors provided by the legislation.
		2/03/2016	The previous question on the motion to recommit with instructions was ordered without objection.
		2/03/2016	Motion to reconsider laid on the table Agreed to without objection.
		2/03/2016
		2/03/2016	House amendment offered
		2/03/2016
		2/03/2016	House amendment offered
		2/03/2016
		2/03/2016	House amendment offered
		2/03/2016
		2/03/2016	House amendment offered
		2/03/2016
		2/03/2016	House amendment offered
select this vote	Vote	2/03/2016	On Agreeing to the Amendment: Amendment 1 to H R 1675
select this vote	Vote	2/03/2016	On Agreeing to the Amendment: Amendment 4 to H R 1675
select this vote	Vote	2/03/2016	On Agreeing to the Amendment: Amendment 5 to H R 1675
select this vote	Vote	2/03/2016	On Motion to Recommit with Instructions: H R 1675 Encouraging Employee Ownership Act of 2015
currently selected	House Vote on Passage	2/03/2016	On Passage: H R 1675 Encouraging Employee Ownership Act of 2015
		2/03/2016	Amendment (A001) offered by Mr. DeSaulnier.
		2/03/2016	House amendment offered/reported by : Amendment (A001) offered by Mr. DeSaulnier.
		2/03/2016	Amendment (A002) offered by Mr. Huizenga (MI).
		2/03/2016	House amendment offered/reported by : Amendment (A002) offered by Mr. Huizenga (MI).
select this vote	Vote	2/03/2016	On agreeing to the Huizenga (MI) amendment (A002) Agreed to by voice vote.
		2/03/2016	Amendment agreed to Committee of the Whole
		2/03/2016	House amendment agreed to: On agreeing to the Huizenga (MI) amendment (A002) Agreed to by voice vote.
		2/03/2016	Amendment (A003) offered by Mr. Sherman.
		2/03/2016	House amendment offered/reported by : Amendment (A003) offered by Mr. Sherman.
select this vote	Vote	2/03/2016	On agreeing to the Sherman amendment (A003) Failed by voice vote.
		2/03/2016	House amendment not agreed to: On agreeing to the Sherman amendment (A003) Failed by voice vote.
		2/03/2016	Amendment failed in Committee of the Whole
		2/03/2016	Amendment (A004) offered by Mr. Issa.
		2/03/2016	House amendment offered/reported by : Amendment (A004) offered by Mr. Issa.
		2/03/2016	Amendment (A005) offered by Mrs. Maloney, Carolyn.
		2/03/2016	House amendment offered/reported by : Amendment (A005) offered by Mrs. Maloney, Carolyn.
		2/03/2016	Roll call votes on amendments in House
		2/03/2016	Amendment failed in Committee of the Whole
		2/03/2016	Amendment failed in Committee of the Whole
		2/03/2016	Roll call votes on amendments in House
		2/03/2016	Amendment failed in Committee of the Whole
		2/03/2016	Roll call votes on amendments in House
		2/04/2016	Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

	Number	Sponsor	Date Offered	Status
	H. Amdt. 922	DeSaulnier, Mark [D-CA11]	February 3, 2016	Failed by voice vote on February 3, 2016.
	Amendment sought to direct the SEC to study and report to Congress on the prevalence of employee ownership plans within companies that include a flexible or social benefit component in their articles of incorporation. Show amendment details
select this vote	H. Amdt. 923	Huizenga, Bill [R-MI2]	February 3, 2016	Passed by voice vote on February 3, 2016.
	Amendment clarifies the disqualification from the exemption of any broker or associated person who is subject to suspension or revocation of registration, and the inapplicability of the exemption to any M&A transaction where one party or more is a shell company. Show amendment details
select this vote	H. Amdt. 924	Sherman, Brad [D-CA30]	February 3, 2016	Failed by voice vote on February 3, 2016.
	Amendment sought to provide exclusions for when an M&A broker is not exempt from registration with the SEC. Show amendment details
	H. Amdt. 925	Issa, Darrell [R-CA49]	February 3, 2016	Failed by voice vote on February 3, 2016.
	Amendment sought to limit all granted exemptions to only those companies obligated to begin submitting financial disclosures to the Securities and Exchange Commission after the date of enactment. Show amendment details
	H. Amdt. 926	Maloney, Carolyn [D-NY12]	February 3, 2016	Failed by voice vote on February 3, 2016.
	Amendment sought to strike title IV and preserve the SEC requirement that public companies report their information related to corporate financial performance as searchable data. Show amendment details