1. Short title This Act may be cited as the Public Company Advisory Committee Act of 2023 . 2. Public Company Advisory Committee The Securities Exchange Act of 1934 is amended by inserting after section 40 ( 15 U.S.C. 78qq ) the following: 40A. Public Company Advisory Committee (a) Establishment and purpose (1) Establishment There is established within the Commission the Public Company Advisory Committee (referred to in this section as the ‘Committee’). (2) Purpose The Committee shall— (A) provide the Commission with advice on its rules, regulations, and policies with regard to its mission of protecting investors, maintaining fair, orderly, and efficient markets, and facilitating capital formation, as they relate to the following: (i) “existing and emerging regulatory priorities of the Commission; (ii) issues relating to the public reporting and corporate governance of public companies; (iii) issues relating to the proxy process for shareholder meetings held by public companies; (iv) issues relating to trading in the securities of public companies; and (v) issues relating to capital formation; and (B) submit to the Commission such findings and recommendations as the Committee determines are appropriate, including recommendations for proposed regulatory and legislative changes. (b) Membership (1) In general The membership of the Committee shall be not fewer than 10, and not more than 20, members appointed by the Commission from among individuals who— (A) are officers, directors, or senior officials of public companies registered with the Commission under the Securities Act or 1933 and this Act, except for those public companies that own asset management, fixed income, investment advisory, broker-dealer, or proxy services businesses; (B) are executives or other individuals with senior managerial responsibility in business, professional, trade, and industry associations that represent the interests of such public companies