H.R.8286

H. R. 8286

April 15, 2026

Mr. Steil (for himself and Mrs. Wagner) introduced the following bill; which was referred to the Committee on Financial Services

A BILL

To amend the Federal securities laws with respect to the materiality of disclosure requirements, to establish the Public Company Advisory Committee, and for other purposes.

1. Short title; table of contents; TITLE I—MANDATORY MATERIALITY REQUIREMENT; 101. Limitation on disclosure requirements; TITLE II—PUBLIC COMPANY ADVISORY COMMITTEE; 201. Public Company Advisory Committee; TITLE III—PROTECTING U.S. BUSINESS SOVEREIGNTY; 301. Study on detrimental impact of the Corporate Sustainability Due Diligence Directive and Corporate Sustainability Reporting Directive; TITLE IV—CORPORATE GOVERNANCE EXAMINATION; 401. Study of certain issues with respect to proxy advisory firms and the proxy process; TITLE V—REGISTRATION OF PROXY ADVISORY FIRMS; 501. Registration of proxy advisory firms; TITLE VI—LIABILITY FOR CERTAIN FAILURES TO DISCLOSE MATERIAL INFORMATION OR MAKING OF MATERIAL MISSTATEMENTS; 601. Liability for certain failures to disclose material information or making of material misstatements; TITLE VII—DUTIES OF INVESTMENT ADVISERS, ASSET MANAGERS, AND PENSION FUNDS; 701. Duties of investment advisers, asset managers, and pension funds; TITLE VIII—PROTECTING AMERICANS’ SAVINGS; 801. Requirements related to proxy voting; TITLE IX—EMPOWERING SHAREHOLDERS; 901. Proxy voting of passively managed funds; TITLE X—BEST INTEREST BASED ON PECUNIARY FACTORS; 1001. Protecting retail investors’ savings