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HR 3402 · in committee · significant

To amend the Securities Exchange Act of 1934 to require certain disclosures by institutional investment managers in connection with proxy advisory firms, and for other purposes.

What this bill does

  • Requires institutional investment managers to disclose how they vote on shareholder proposals and their reliance on proxy advisory firm recommendations.
  • Affects large investment firms that manage retirement accounts and other institutional funds for clients.
  • Managers must file annual reports certifying votes were made in shareholders' best economic interest, with no implementation timeline specified.

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Community Threads

Started by Cosponsor

  1. 01

    How might mandatory disclosure of proxy voting patterns affect the competitive strategies of large investment managers?

  2. 02

    What evidence exists that institutional investors currently over-rely on proxy advisory firm recommendations rather than conducting independent analysis?

  3. 03

    Who bears the costs of implementing annual compliance reporting, and could those expenses be passed to individual retirement account holders?

Cosponsor writes these to seed civic discussion — they aren't user posts. Sign in to reply.

Sponsor · R-GA-11

Barry Loudermilk

Citizen cosponsors

0

In Congress

0/ 435

House Reps cosponsoring

Introduced 2025-05-14

Legislative timeline

  1. 2025-05-14 · house · IntroReferral

    Referred to the House Committee on Financial Services.

  2. 2025-05-14 · IntroReferral

    Introduced in House

  3. 2025-05-14 · IntroReferral

    Introduced in House

Congress.gov ↗

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