H.R. 4925 — Original Securities and Exchange Atonement Act of 2025

This section amends the Securities Act of 1933 to require each covered issuer, not later than 6 months after enactment and every 2 years thereafter, to (1) conduct an independent audit assessing, within each line of business, its policies and practices on civil rights, equity, diversity, and inclusion and their business effects, as well as any ties to or profits from slavery by the issuer, predecessors, or affiliates; (2) submit a report to the Securities and Exchange Commission (SEC) with all material findings or an attestation of no material changes, plus disclosures of reconciliation steps taken or planned for slavery ties (e.g., funded savings programs in low- to moderate-income communities, grants to historically Black colleges and universities, or grants to specified historically Black tax-exempt organizations); and (3) make the report publicly available on the issuer's and SEC's websites. It authorizes the SEC to impose fines of $20,000 per day on issuers and $2,000 per day on responsible employees or officers for failures to report or for false, misleading, or inaccurate reports, with 50% of fines transferred to the Treasury for the Office of Minority Low to Moderate Income Programs and 50% to the Department of Housing and Urban Development (HUD) for (I) housing counseling and homebuyer assistance for first-time, first-generation minority low- to moderate-income homebuyers; (II) eviction and foreclosure aid for minority low- to moderate-income renters and owners; (III) affordable housing production, including permanent supportive housing, under the Housing Trust Fund (i.e., grants to states for extremely low- and very low-income rental housing and homeownership); (IV) rental assistance under the Housing Choice Voucher Program; and (V) fair housing equity plan grants. It further provides a private right of action for security holders harmed by noncompliance and SEC whistleblower awards of at least $20,000 for information leading to successful enforcement.