SEC Relief to Slow the Spread of Coronavirus Act of 2020

SEC Relief to Slow the Spread of Coronavirus Act of 2020

This bill temporarily allows for securities law requirements related to in-person meetings and document delivery to be met electronically.

[Congressional Bills 116th Congress]
[From the U.S. Government Publishing Office]
[H.R. 6242 Introduced in House (IH)]

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116th CONGRESS
  2d Session
                                H. R. 6242

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.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             March 12, 2020

Mr. 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.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``SEC Relief to Slow the Spread of 
Coronavirus Act of 2020''.

SEC. 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.
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