H.R. 6242 — Introduced in House

I 116th CONGRESS 2d Session H. R. 6242 IN THE HOUSE OF REPRESENTATIVES March 12, 2020Mr. Huizenga (for himself, Mr. McHenry, Mr. Stivers, Mr. Barr, Mr. Hill of Arkansas, Mr. Timmons, Mr. Steil, Mr. Riggleman, and Mr. Luetkemeyer) introduced the following bill; which was referred to the Committee on Financial Services A BILL To temporarily permit certain in-person meeting requirements under the securities laws to be met by using videoconferencing, to allow for the electronic delivery of certain documents, and for other purposes. 1. Short title This Act may be cited as the SEC Relief to Slow the Spread of Coronavirus Act of 2020. 2. Use of electronic communications (a) In general For purposes of the securities laws (as defined under section 3 of the Securities Exchange Act of 1934 (15 U.S.C. 78c)): (1) Any requirement of an in-person meeting may be met by using videoconferencing or other means by which the applicable individuals can participate and communicate with each other during the meeting. (2) Any requirement related to document delivery may be met by the electronic delivery of such document. (b) Exception If the Securities and Exchange Commission determines that keeping a particular in-person meeting required under the securities laws as an in-person meeting is necessary in the public interest and for the protection of investors, the Commission may issue a rule (on an emergency basis and not subject to notice or hearing) to exempt such in-person meeting from the requirement under subsection (a)(1). (c) Sunset This section shall have no force or effect after the end of the 1-year period beginning on the date of enactment of this Act.