,i  #aaf? ,,congress  #a/ ,session  ,h4 
,r4 #cbgi  ,,9 ,,! ,,h\se ,,(           
,,repres5tatives  ,june #ac1 #bjai,mrs4 
,c>olyn ,b4 ,maloney ( ,new ,york       
introduc$ ! foll[+ bill2 :i* 0 ref]r$ to
 ! ,committee on ,f9ancial ,s]vices  ,a 
,,bill  ,to require ! ,securities &     
,ex*ange ,commission to e/abli% a       
,div]sity ,advisory ,gr\p to /udy & make
 recomm5dations on /rategies to increase
 g5d]1 racial1 & e?nic div]sity among ! 
memb]s ( ! bo>d ( directors ( issu]s1 to
 am5d ! ,securities ,ex*ange ,act (     
#aicd to require issu]s to make         
disclosures to %>ehold]s ) respect to   
g5d]1 racial1 & e?nic div]sity1 & = o!r 
purposes4  #a4 ,%ort title ,?is ,act may
 be cit$ z ! ,div]sity 9 ,corporate     
,lead]%ip ,act ( #bjai4  #b4 ,div]sity  
/udy & disclosures  7a7 ,div]sity       
,advisory ,gr\p  7#a7 ,e/abli%m5t ,!    
,securities & ,ex*ange ,commission %all 
e/abli% a ,div]sity ,advisory ,gr\p 7!  
,advisory ,gr\p71 :i* %all be compos$ ( 
repres5tatives f ! ,gov]nm5t1 academia1 

& ! private sector4  7#b7 ,/udy &       
recomm5dations ,! ,advisory ,gr\p %all--
 7,a7 c>ry out a /udy on /rategies to   
increase g5d]1 racial1 & e?nic div]sity 
among ! memb]s ( ! bo>d ( directors (   
issu]s2 &  7,b7 n lat] ?an #i mon?s aft]
 ! e/abli%m5t ( ! ,advisory ,gr\p1 issue
 a report to ! ,commission1 ! ,committee
 on ,f9ancial ,s]vices ( ! ,h\se (      
,repres5tatives1 & ! ,committee on      
,bank+1 ,h\s+1 & ,urban ,affairs ( !    
,s5ate conta9+ ! f9d+s & det]m9ations   
made 9 c>ry+ out su* /udy1 along )      
recomm5dations to increase g5d]1 racial1
 & e?nic div]sity among ! memb]s ( !    
bo>d ( directors ( issu]s4  7#c7 ,annual
 report ,n lat] ?an #a ye> foll[+ !     
issuance ( ! report "u p>agraph         
7#b77;,b71 & annually !reaft]1 !        
,commission %all issue a report to !    
,committee on ,f9ancial ,s]vices ( !    
,h\se ( ,repres5tatives & ! ,committee  
on ,bank+1 ,h\s+1 & ,urban ,affairs ( ! 
,s5ate on ! /atus ( g5d]1 racial1 &     
e?nic div]sity among ! memb]s ( ! bo>d (

 directors ( issu]s4  7#d7 ,public      
availability ( reports ,! ,commission   
%all make all reports ( ! ,advisory     
,gr\p available to issu]s & ! public1   
includ+ on ! website ( ! ,commission4   
7b7 ,disclosures ,! ,securities ,ex*ange
 ,act ( #aicd 7#ae ,u4,s4,c4 #gh;a et   
seq47 is am5d$ by ins]t+ aft] section   
#ad;,b ! foll[+3  #ad;,c4 ,div]sity     
disclosures ,! ,commission %all1 by     
rule1 require ea* issu] to disclose1 9  
any proxy or cons5t solicitation mat]ial
 = an annual meet+ ( ! %>ehold]s ( !    
issu]1 ! g5d]1 racial1 & e?nic          
composition ( ! issu]'s bo>d ( directors
 & nom9ees = ! bo>d ( directors4  4