Reps. Lucas and Pettersen Introduce the Public Company Advisory Committee Act

Washington, DC – Representatives Frank D. Lucas (R-OK-03) and Brittany Pettersen (D-CO-07) recently introduced the Public Company Advisory Committee Act, a bipartisan bill aimed at protecting investors, maintaining efficient markets, and facilitating capital formation.

The bill would amend the Securities Exchange Act of 1934 by establishing a Public Company Advisory Committee within the Securities and Exchange Commission to address emerging regulatory priorities as well as issues relating to public reporting and trading. Public companies are among the few SEC registrants without an advisory committee.

“I am very pleased to join my colleague from Colorado to introduce legislation that will ensure our markets are both fair and efficient,” said Congressman Frank D. Lucas. “Sitting on the House Financial Services Committee, we are ready to bring this timely and commonsense piece of legislation to the table in order to strengthen our economy.”

“Our capital markets are critical to helping businesses grow, innovate, and compete globally,” said Rep. Pettersen. “I’m proud to join my friend from Oklahoma in announcing this bill that will help the Securities and Exchange Commission (SEC) promote better transparency and feedback on investor protection efforts, facilitating capital formation, and maintaining fair, orderly and efficient markets.”

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