HR 4599
Protections and Transparency in the Workplace Act
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Bill overview
The Protections and Transparency in the Workplace Act requires public companies to disclose information about sexual harassment and discrimination claims in their financial reports. It mandates that companies implement mandatory sexual harassment training for all employees, including bystander training, and conduct an annual employee survey to assess workplace safety and reporting comfort. Furthermore, the bill requires companies to engage independent third-party law firms to investigate claims and establishes a whistleblower tip line for reporting concerns.
Key provisions
- Public companies must disclose the number of covered discrimination and harassment claims received, investigated, resolved, and settled.
- Companies must report the aggregate amount of payments made in connection with these claims.
- Companies must implement mandatory sexual harassment training programs for all employees, with specific training for managers and HR staff.
- Companies must conduct an annual employee survey to assess workplace safety and reporting comfort.
- Companies must engage independent third-party law firms to investigate claims.
- A whistleblower tip line must be established for employees to anonymously report concerns.
- Disclosure requirements extend to parent, subsidiary, and affiliate companies.
- The bill requires redaction of names in reports to protect the privacy of individuals involved.
Who is affected
- Public companies
- Employees of public companies
- Investors in public companies
Sponsors
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Primary sponsor
Cosponsors
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119th CONGRESS — 1st Session
H. R. 4599
IN THE HOUSE OF REPRESENTATIVES
A BILL
To amend the Securities Exchange Act of 1934 to require public companies to provide sexual harassment claim disclosures in certain reports, to require public companies to implement mandatory sexual harassment training, and for other purposes.
This Act may be cited as the Protections and Transparency in the Workplace Act
.
by redesignating the second paragraph (80) (related to funding portals) as paragraph (81); and
by adding at the end the following:
discrimination because of age under the Age Discrimination in Employment Act of 1967 (29 U.S.C. 621 et seq.);
discrimination on the basis of disability under—
title I of the Americans with Disabilities Act of 1990 (42 U.S.C. 12111 et seq.); or
section 501 of the Rehabilitation Act of 1973 (29 U.S.C. 791);
discrimination because of genetic information under title II of the Genetic Information Nondiscrimination Act of 2008 (42 U.S.C. 2000ff et seq.);
discrimination on the basis of status concerning service in a uniformed service under section 4311(a) of title 38, United States Code;
sexual harassment; or
sexual assault or abuse.
Each issuer required to file an annual or quarterly report under subsection (a) shall disclose, in each such report, the following:
In an aggregated format including the disclosures with respect to the issuer and all parents, subsidiaries, and affiliates of the issuer.
has in place policies and systems to ensure that the management of the issuer is aware of the requirements of this subsection, section 14C, and section 14D, and any rules issued thereunder; and
is in compliance with such requirements and rules.
may redact the names of specific individuals involved with the agreement; and
unless the issuer has received consent from a complainant, shall redact the name of the complainant.
The Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.) is amended by inserting after section 14B the following:
In choosing the third-party law firm to be engaged under subsection (a), the issuer may only choose a law firm agreed to by all employees involved with the claim.
The Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.), as amended by section 3, is further amended by inserting after section 14C the following:
Each training program developed under paragraph (1) shall contain the following:
An identification of available resources for making complaints, including contact information for the head of human resources, contact information for the whistleblower tip line established under this section, and other public resources where further information can be obtained, such as law enforcement agencies, hospitals, and mental health resources.
require new employees to complete the training program not later than 60 days after the employee assumes their position;
require all employees to complete the training program once annually; and
establish an anonymous whistleblower tip line for employees; and
with respect to any report made to the tip line, immediately provide the report to the general counsel of the issuer, the head of human resources for the issuer, and the members of the board of directors of the issuer.
The term covered issuer means an issuer of a security registered pursuant to section 12.
With respect to an issuer, the term employee means—
an employee of the issuer, including a volunteer or other individual working for the issuer without pay; and