,,ii  #aag? ,,congress  #a/ ,session    
,s4 #cgd  ,,9 ,,! ,,s5ate ,,( ,,!       
,,unit$ ,,/ates  ,febru>y #bc1 #bjba,mr4
 ,m55dez 7= himself1 ,ms4 ,w>r51 ,mr4   
,van ,holl51 ,mr4 ,book]1 ,mrs4 ,fe9/e91
 ,mr4 ,padilla1 ,mrs4 ,gillibr&1 ,ms4   
,cortez ,ma/o1 ,mr4 ,w>nock1 & ,mr4     
,br[n7 introduc$ ! foll[+ bill2 :i* 0   
read twice & ref]r$ to ! ,committee on  
,bank+1 ,h\s+1 & ,urban ,affairs  ,a    
,,bill  ,to am5d ! ,securities ,ex*ange 
,act ( #aicd to require ! submission by 
issu]s ( data relat+ to div]sity1 & =   
o!r purposes4  #a4 ,%ort title ,?is ,act
 may be cit$ z ! ,improv+ ,corporate    
,gov]nance ,?r\gh ,div]sity ,act (      
#bjba4  #b4 ,submission ( data relat+ to
 div]sity by issu]s ,section #ac ( !    
,securities ,ex*ange ,act ( #aicd 7#ae  
,u4,s4,c4 #ghm7 is am5d$ by add+ at !   
end ! foll[+3  7s7 ,submission ( data   
relat+ to div]sity  7#a7 ,def9itions ,9 
?is subsection-- 7,a7 ! t]m executive   
(fic] has ! mean+ giv5 ! t]m 9 section  
#bcj4eja7;f7 ( title #ag1 ,code ( ,f$]al

 ,regulations1 z 9 effect on ! date (   
enactm5t ( ?is subsection2 &  7,b7 ! t]m
 vet]an has ! mean+ giv5 ! t]m 9 section
 #aja ( title #ch1 ,unit$ ,/ates ,code4 
7#b7 ,submission ( disclosure ,ea* issu]
 requir$ to file an annual report "u    
subsection 7a7 %all disclose 9 any proxy
 /atem5t & any in=mation /atem5t relat+ 
to ! election ( directors fil$ ) !      
,commission ! foll[+3 7,a7 ,data1 bas$  
on volunt>y self-id5tification1 on !    
racial1 e?nic1 & g5d] composition (--   
7i7 ! bo>d ( directors ( ! issu]2  7ii7 
nom9ees = ! bo>d ( directors ( ! issu]2 
&  7iii7 ! executive (fic]s ( ! issu]4  
7,b7 ,! /atus ( any memb] ( ! bo>d (    
directors ( ! issu]1 any nom9ee = ! bo>d
 ( directors ( ! issu]1 or any executive
 (fic] ( ! issu]1 bas$ on volunt>y      
self-id5tification1 z a vet]an4  7,c7   
,:e!r ! bo>d ( directors ( ! issu]1 or  
any committee ( t bo>d ( directors1 has1
 z ( ! date on :i* ! issu] makes a      
disclosure "u ?is p>agraph1 adopt$ any  
policy1 plan1 or /rategy to promote     

racial1 e?nic1 & g5d] div]sity among--  
7i7 ! bo>d ( directors ( ! issu]2  7ii7 
nom9ees = ! bo>d ( directors ( ! issu]2 
or  7iii7 ! executive (fic]s ( ! issu]4 
7#c7 ,alt]native submission ,9 any      
#a-ye> p]iod 9 :i* an issu] requir$ to  
file an annual report "u subsection 7a7 
does n file ) ! ,commission a proxy     
/atem5t or an in=mation /atem5t relat+  
to ! election ( directors1 ! issu] %all 
disclose ! in=mation requir$ "u p>agraph
 7#b7 9 ! fir/ annual report ( issu] t !
 issu] submits to ! ,commission aft] !  
end ( t #a-ye> p]iod4  7#d7 ,annual     
report ,n lat] ?an #ah mon?s aft] ! date
 ( enactm5t ( ?is subsection1 & annually
 !reaft]1 ! ,commission %all submit to !
 ,committee on ,bank+1 ,h\s+1 & ,urban  
,affairs ( ! ,s5ate & ! ,committee on   
,f9ancial ,s]vices ( ! ,h\se (          
,repres5tatives1 & publi% on ! website (
 ! ,commission1 a report t analyzes !   
in=mation disclos$ "u p>agraphs 7#b7 &  
7#c7 & id5tifies any tr5ds ) respect to 
su* in=mation4  7#e7 ,be/ practices     

7,a7 ,9 g5]al ,! ,director ( ! ,(fice ( 
,m9ority & ,wom5 ,inclusion ( !         
,commission %all1 n lat] ?an #c ye>s    
aft] ! date ( enactm5t ( ?is subsection1
 & e #c ye>s !reaft]1 publi% be/        
practices = compliance ) ?is subsection4
  7,b7 ,comm5ts ,! ,director ( ! ,(fice 
( ,m9ority & ,wom5 ,inclusion ( !       
,commission may1 pursuant to sub*apt]   
,,ii ( *apt] #e ( title #e1 ,unit$      
,/ates ,code1 solicit public comm5ts    
relat$ to ! be/ practices publi%$ "u    
subp>agraph 7,a74  4  #c4 ,div]sity     
advisory gr\p  7a7 ,def9itions ,= !     
purposes ( ?is section3 7#a7 ,advisory  
,gr\p ,! t]m ,advisory ,gr\p means !    
,div]sity ,advisory ,gr\p e/abli%$ "u   
subsection 7b74  7#b7 ,commission ,! t]m
 ,commission means ! ,securities &      
,ex*ange ,commission4  7#c7 ,issu] ,!   
t]m issu] has ! mean+ giv5 ! t]m 9      
section #c7;a7 ( ! ,securities ,ex*ange 
,act ( #aicd 7#ae ,u4,s4,c4 #gh;c7a774  
7b7 ,e/abli%m5t ,! ,commission %all     
e/abli% a ,div]sity ,advisory ,gr\p1 :i*

 %all be compos$ ( repres5tatives f--   
7#a7 ! ,f$]al ,gov]nm5t & ,/ate & local 
gov]nm5ts2  7#b7 academia2 &  7#c7 !    
private sector4  7c7 ,/udy &            
recomm5dations ,! ,advisory ,gr\p %all--
 7#a7 c>ry out a /udy t id5tifies       
/rategies t c be us$ to increase g5d]1  
racial1 & e?nic div]sity among memb]s ( 
bo>ds ( directors ( issu]s2 &  7#b7 n   
lat] ?an #bgj days aft] ! date on :i* ! 
,advisory ,gr\p is e/abli%$1 submit to !
 ,commission1 ! ,committee on ,bank+1   
,h\s+1 & ,urban ,affairs ( ! ,s5ate1 & !
 ,committee on ,f9ancial ,s]vices ( !   
,h\se ( ,repres5tatives a report t--    
7,a7 describes any f9d+s f ! /udy       
conduct$ "u p>agraph 7#a72 &  7,b7 makes
 recomm5dations reg>d+ /rategies t      
issu]s c\ld use to increase g5d]1       
racial1 & e?nic div]sity among bo>d     
memb]s4  7d7 ,annual report ,n lat] ?an 
#a ye> aft] ! date on :i* ! ,advisory   
,gr\p submits ! report requir$ "u       
subsection 7c77#b71 & annually !reaft]1 
! ,commission %all submit to !          

,committee on ,bank+1 ,h\s+1 & ,urban   
,affairs ( ! ,s5ate & ! ,committee on   
,f9ancial ,s]vices ( ! ,h\se (          
,repres5tatives a report t describes !  
/atus ( g5d]1 racial1 & e?nic div]sity  
among memb]s ( ! bo>ds ( directors (    
issu]s4  7e7 ,public availability (     
reports ,! ,commission %all make all    
reports ( ! ,advisory ,gr\p available to
 issu]s & ! public1 includ+ on ! website
 ( ! ,commission4  7f7 ,inapplicability 
( ,f$]al ,advisory ,committee ,act ,!   
,f$]al ,advisory ,committee ,act 7#e    
,u4,s4,c4 ,app47 %all n apply ) respect 
to ! ,advisory ,gr\p or ! activities ( !
 ,advisory ,gr\p4