118th Congress · SENATE BILLBILL

S. 2005 — Mandatory Materiality Requirement Act of 2023

“A bill to amend the Securities Act of 1933 to require that information required to be disclosed to the Securities and Exchange Commission by issuers be material to voting or investment decisions regarding those issuers, and for other purposes.”

Finance and financial sector

Introduced Jun 15, 2023

Last action Jun 15, 2023

Pipeline · Bill → Law

Step 1

Introduced

Jun 15, 2023

Step 2

Referred

Jun 15, 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 the Securities and Exchange Commission (SEC) to limit issuer disclosure requirements made in a rulemaking. Specifically, the SEC must provide that an issuer of securities is only required to disclose information in response to a rulemaking if the issuer determines that this information is important to a voting or investment decision regarding the issuer.

Provisions · 2 sectionsIntroduced in Senate

Timeline · 2 actions

Jun 15, 2023

Introduced in Senate

Jun 15, 2023

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