A bill to amend the Securities Act of 1934 to require country-by-country reporting.
Key claim: Senate bill S5019 would amend the Securities Act of 1934 to require country-by-country reporting and has been referred to the Committee on Banking, Housing, and Urban Affairs.
Abstract
(S5019 · 119th Congress) Latest action (2026-07-16): Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Why this matters
Country-by-country reporting via securities disclosure would give investors, regulators, and trade authorities standardized visibility into where multinationals book revenue, taxes, and operations — a data source relevant to tariff enforcement, transfer pricing, and supply-chain due diligence. If enacted, it would extend OECD-style CbCR concepts into mandatory SEC disclosure, raising compliance costs for issuers but improving cross-border transparency for trade policymaking.