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.
- economy
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
- 01
How might mandatory disclosure of proxy voting patterns affect the competitive strategies of large investment managers?
- 02
What evidence exists that institutional investors currently over-rely on proxy advisory firm recommendations rather than conducting independent analysis?
- 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
2025-05-14 · house · IntroReferral
Referred to the House Committee on Financial Services.
2025-05-14 · IntroReferral
Introduced in House
2025-05-14 · IntroReferral
Introduced in House
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