3.0.0 4648 2025-05-27T14:15:09Z 2025-05-27T14:15:09Z House H HR 2023-07-14 118 <pre>[Congressional Record Volume 169, Number 121 (Friday, July 14, 2023)][House]From the Congressional Record Online through the Government Publishing Office [<a href="https://www.gpo.gov">www.gpo.gov</a>]By Mr. LOUDERMILK:H.R. 4648.Congress has the power to enact this legislation pursuantto the following:Article 1, Section 8, Clause 18.To make all Laws which shall be necessary and proper forcarrying into Execution the foregoing Powers, and all otherPowers vested by this Constitution in the Government of theUnited States, or in any Department or Officer thereofThe single subject of this legislation is:To require certain investment advisors, asset managers, andpension funds to disclose certain information related tovoting on shareholder proposals.[Page H3613]</pre> hsba00 Financial Services Committee House Standing Referred To 2023-07-14T13:02:15Z 118 4767 HR 2023-12-19 Placed on the Union Calendar, Calendar No. 263. Related bill CRS 2023-07-14 Referred to the House Committee on Financial Services. IntroReferral H11100 2 House floor actions hsba00 Financial Services Committee 2023-07-14 Introduced in House IntroReferral Intro-H 9 Library of Congress 2023-07-14 Introduced in House IntroReferral 1000 9 Library of Congress L000583 Rep. Loudermilk, Barry [R-GA-11] Barry Loudermilk R GA 11 N Finance and Financial Sector Finance and Financial Sector 2023-08-22T17:30:27Z

00 2023-07-14 Introduced in House 2024-05-31T14:41:42Z <p>This bill requires certain institutional investment managers that use proxy advisory firms to disclose information related to voting on shareholder proposals. (Proxy advisory firms provide voting services and advice to institutional investors in public companies for proposals presented at shareholder meetings.)</p><p>Generally, institutional investment managers must report annually (1) how the manager voted on each shareholder proposal, (2) the percentage of votes cast in accordance with proxy advisory firm recommendations, and (3) explanations such as how votes are reconciled with fiduciary duties. Managers must also certify that votes were based solely on the best economic interest of the shareholders.</p><p>In addition, large institutional investment managers must (1) inform customers that shareholders are not required to vote on every proposal; (2) on certain votes, determine through an economic analysis the vote that is in the best economic interest of shareholders; and (3) report any such analysis annually. &nbsp;</p><!--tinycomments|2.1|data:application/json;base64,eyJtY2UtY29udmVyc2F0aW9uXzI5Mzg0MTEwMDIxNzE0MTU1MTg0MzI5Ijp7InVpZCI6Im1jZS1jb252ZXJzYXRpb25fMjkzODQxMTAwMjE3MTQxNTUxODQzMjkiLCJjb21tZW50cyI6W3sidWlkIjoibWNlLWNvbnZlcnNhdGlvbl8yOTM4NDExMDAyMTcxNDE1NTE4NDMyOSIsImF1dGhvciI6ImFyZWVkQGxpYi5sb2MuZ292IiwiYXV0aG9yTmFtZSI6ImFyZWVkQGxpYi5sb2MuZ292IiwiY29udGVudCI6IlBhcmVudGhldGljYWwgdGFrZW4gZnJvbSBIIDQ1ODkiLCJjcmVhdGVkQXQiOiIyMDI0LTA0LTI2VDE4OjEzOjA0LjMyOVoiLCJtb2RpZmllZEF0IjoiMjAyNC0wNC0yNlQxODoxMzowNC4zMjlaIn1dfX0=-->

Display Title 45 2024-07-24T15:20:58Z Official Title as Introduced 6 2024-03-18T21:09:07Z Introduced in House IH Introduced in House 2023-07-14T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-118hr4648ih/xml/BILLS-118hr4648ih.xml 2023-07-14 Referred to the House Committee on Financial Services. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.