118th Congress · SENATE BILLBILL

S. 189 — Mind Your Own Business Act of 2023

“A bill to amend the Securities Exchange Act of 1934 to require the Securities and Exchange Commission to require the contractual provision by large issuers of procedural privileges with respect to certain shareholder claims relating to board and management accountability for "woke" social policy actions as a condition of listing on a national securities exchange, and for other purposes.”

Finance and financial sector

Introduced Jan 31, 2023

Last action Jan 31, 2023

Pipeline · Bill → Law

Step 1

Introduced

Jan 31, 2023

Step 2

Referred

Jan 31, 2023

Banking, Housing, and Urban Affairs

Step 3

Committee

Step 4

Senate

Step 5

House floor

Step 6

Resolve Changes

Step 7

Signed

SummaryCRS Summary

This bill requires a large publicly traded company to be bound by certain duties and procedures in the event of a legal claim in response to the company's support of specified social or political issues. The company must establish these duties and procedures in the company's articles of incorporation or bylaws as a condition of listing its shares on a national securities exchange. Specifically, a company must establish duties and procedures applicable to a legal claim brought against a corporate defendant for breach of fiduciary duty resulting from a material action. These duties and procedures require that a corporate defendant must be bound by certain factual representations; has the bu...

Provisions · 3 sectionsIntroduced in Senate

Timeline · 2 actions

Jan 31, 2023

Introduced in Senate

Jan 31, 2023

Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.