Bipartisan legislation led by U.S. Rep. Frank Lucas (R-OK) would establish a Public Company Advisory Committee within the Securities and Exchange Commission (SEC) to address emerging regulatory priorities and issues related to public reporting and trading.
The congressman on Jan. 7 sponsored the Public Company Advisory Committee Act of 2026, H.R. 6967, alongside lead original cosponsor U.S. Rep. Brittany Pettersen (D-CO) to help protect investors, maintain efficient markets, and facilitate capital formation, specifically because 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,” Rep. Lucas said. “Sitting on the House Financial Services Committee, we are ready to bring this timely and common-sense piece of legislation to the table in order to strengthen our economy.”
If enacted, H.R. 6967 would establish the Public Company Advisory Committee to provide the SEC with advice on its rules, regulations, and policies with regard to its mission of protecting investors, maintaining fair, orderly, and efficient markets, and facilitating capital formation.
The committee also would not provide any advice with respect to any policies, practices, actions, or decisions concerning the SEC’s enforcement program; and submit to the SEC such findings and recommendations as it determines are appropriate, including recommendations for proposed regulatory and legislative changes, according to the bill’s text.
“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 SEC promote better transparency and feedback on investor protection efforts, facilitating capital formation, and maintaining fair, orderly and efficient markets.”
H.R. 6967 has been referred to the U.S. House Financial Services Committee for consideration.