Reward Work Act

Summary

Reward Work Act This bill revises provisions related to stock buybacks. An issuer of securities may not purchase its own securities on a national exchange if the issuer has (1) received specified financial assistance related to the COVID-19 (i.e., coronavirus disease 2019) pandemic, and (2) repurchased more than $1 billion worth of its own securities in the last five years. Additionally, one-third of such issuer's board of directors must be elected by employees for the issuer to be allowed to register securities. The bill also repeals the Securities and Exchange Commission regulation (Rule 10b-18) that generally provides a safe harbor from market manipulation liability for an issuer engaging in a stock buyback.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

1. 19 March 2020

   Introduced

   Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

   Source: IntroReferral

2. 19 March 2020

   Introduced

   Introduced in Senate

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in Senate · 19 March 2020 · Download file

Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 19 March 2020

  ViewDownloadOpen at official source

• Introduced in Senate (PDF)

  Introduced in Senate · EN · 19 March 2020

  ViewDownloadOpen at official source

  Leesvertaling

  Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.

  Vertaal naarNL · DutchDE · GermanFR · FrenchES · SpanishIT · ItalianPL · PolishPT · PortugueseSV · SwedishDA · DanishFI · FinnishEL · GreekCS · CzechHU · HungarianRO · RomanianBG · BulgarianHR · CroatianSK · SlovakSL · SlovenianLT · LithuanianLV · LatvianET · EstonianGA · IrishMT · Maltese

  Vertaal document

  Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

• Introduced in Senate

  summary · EN · 19 March 2020

  Open at official source

  Leesvertaling

  Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.

  Vertaal naarNL · DutchDE · GermanFR · FrenchES · SpanishIT · ItalianPL · PolishPT · PortugueseSV · SwedishDA · DanishFI · FinnishEL · GreekCS · CzechHU · HungarianRO · RomanianBG · BulgarianHR · CroatianSK · SlovakSL · SlovenianLT · LithuanianLV · LatvianET · EstonianGA · IrishMT · Maltese

  Vertaal document

  Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

Sponsors

• Sen. Baldwin, Tammy [D-WI] · D · Sponsor
• Sen. Blumenthal, Richard [D-CT] · D · Sponsor
• Sen. Markey, Edward J. [D-MA] · D · Sponsor
• Sen. Sanders, Bernard [I-VT] · I · Sponsor
• · ssbk00 · Standing

Related records

• related to → Reward Work Act
• related to → Reward Work Act