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April 19, 2021 at 03:58 PM
What You Need to Know
- The Diversity and Inclusion Data Accountability and Transparency Act is set for debate Tuesday.
- IAA's Barr said passage of the bill would be a significant step in addressing diversity in the asset management industry.
- Other bills to debated Tuesday include the ESG Disclosure Simplification Act.
The House Financial Services Committee on Tuesday plans to debate and propose changes to H.R. 2123, the Diversity and Inclusion Data Accountability and Transparency Act, which would amend the Dodd-Frank Act to allow agencies like the Securities and Exchange Commission to require regulated entities with more than 100 employees to provide information to the Office of Minority and Women Inclusion (OMWI).
Karen Barr, president of the Investment Adviser Association in Washington, a trade group for RIAs, urged passage of the bill Monday in a letter to committee Chairwoman Maxine Waters, D-Calif.
“The ability to measure progress is critically important,” Barr wrote. “For this reason, enactment of the Diversity and Inclusion Data Accountability and Transparency Act would constitute a significant foundational step in addressing diversity in the asset management industry. The IAA urges you and Committee members to support enactment of the Act.”
