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Supporting Current Investor Disclosure Rules and Opposing New ESG Requirements.

This House Resolution supports maintaining the long-standing definition of "materiality" in securities law, which dictates what information companies must disclose to investors. The goal is to oppose new, potentially costly reporting requirements, particularly those related to Environmental, Social, and Governance (ESG) metrics, if they are deemed irrelevant to investment decisions. This aims to protect investors from information overload and reduce compliance burdens on US businesses.
Key points
Maintaining the standard: Companies must only disclose information that is genuinely important for investor decision-making (the "materiality" standard).
Blocking new mandates: Opposition to the SEC imposing new, expensive reporting requirements outside its core mission, such as detailed ESG data.
Market efficiency: Preventing "information overload" for investors and supporting efficient capital markets by focusing on financially relevant data.
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Expired
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Additional Information
Print number: 118_HRES_32
Sponsor: Rep. Joyce, David P. [R-OH-14]
Process start date: 2023-01-12
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OFFICIAL LEGAL TITLE

Supporting the current definition of materiality in the securities laws and opposing new disclosure requirements outside the core mission of the Securities and Exchange Commission.

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HRES_32.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2023-01-12.

What are the main provisions?

Key points include:

  • Maintaining the standard: Companies must only disclose information that is genuinely important for investor decision-making (the "materiality" standard).
  • Blocking new mandates: Opposition to the SEC imposing new, expensive reporting requirements outside its core mission, such as detailed ESG data.
  • Market efficiency: Preventing "information overload" for investors and supporting efficient capital markets by focusing on financially relevant data.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Joyce, David P. [R-OH-14].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Financial Services.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-30.

CATEGORIES

Economy