S. 3033: Securities Litigation Attorney Accountability and Transparency Act

110th Congress · introduced 2008-05-19 · Finance and Financial Sector · Latest: Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

federal

Follow this bill, step by step

Where it came from: introduced 2008-05-19 · official record
Who proposed it: Sen. Cornyn, John [R-TX] · what a sponsor is
What happened next: no floor votes in our records yet. Why?
Where it stands now: Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Not final yet: this can still change. We check for updates every day.
If it becomes law and spends money: follow the money to money laws, then agencies and contracts and grants.

What does this mean?

Official title

Securities Litigation Attorney Accountability and Transparency Act

Plain summary

Securities Litigation Attorney Accountability and Transparency Act - Amends the Securities Exchange Act of 1934 and the Securities Act of 1933 to require plaintiff and plaintiff's attorney to provide sworn, signed certifications that identify any actual or promised payment by the attorney to the plaintiff, beyond the plaintiff's pro rata share of any recovery. Requires similar plaintiff and plaintiff's attorney certifications regarding: (1) legal representations; (2) contributions; and (3) conflicts of interest. Requires the court, in exercising discretion over the approval of lead counsel, to employ a competitive bidding process as one of the criteria (unless the court determines that such a process is not feasible). Instructs the Comptroller General to study and report to certain congressional committees on average hourly fees in securities class actions.

Congressional Research Service summary (Introduced in Senate), quoted unchanged (nonpartisan). Read the source.

What a vote does

A “Yea” vote

If it passes both chambers and is signed, it becomes law.

A “Nay” vote

If it is not passed, current law stays as it is.

PSI Sci description of the legislative step (not an opinion).

What does this mean? (plain words)

Official text

Securities Litigation Attorney Accountability and Transparency Act

Source: Congressional Research Service summary (Introduced in Senate)

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The strongest published arguments

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Alternatives

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How did my representative vote? · This bill's floor votes

Officials and money

Sponsor: Sen. Cornyn, John [R-TX] · 0 cosponsors

Cost estimate: No cost estimate published yet.

Sponsor's campaign money: Sen. Cornyn, John [R-TX] reported raising $8.6 million (2025–2026). Details. Shown for context only; it does not mean any donor supported this bill.

No linked floor roll calls in our collected records yet. This does not mean the bill has never had a vote. Check the official bill history.

Words on this page, explained (1)

Securities: Financial investments that can be bought and sold, such as stocks and bonds.

Plain meanings written from linked sources. All words.

Sources

Congressional Research Service summary (Introduced in Senate)
Congress.gov
Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-110s3033.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/110/s>

Record fed-us-cong110-s3033 · catalog fed-us-congress-bills-cong110 · updated 2026-11-15 by psicol fed-bills-cong110