To amend the Securities Exchange Act of 1934 to provide for the registration of proxy advisory firms, and for other purposes.

3.0.0 4767 2025-05-27T14:15:09Z 2025-05-27T14:15:09Z House H HR 2023-07-20 118 <pre>[Congressional Record Volume 169, Number 124 (Wednesday, July 19, 2023)][House]From the Congressional Record Online through the Government Publishing Office [<a href="https://www.gpo.gov">www.gpo.gov</a>]By Ms. TITUS:H.R. 4767.Congress has the power to enact this legislation pursuantto the following:Article I, Section 8, clause 18The single subject of this legislation is:Health[Page H3859]</pre> hsba00 Financial Services Committee House Standing Reported By 2023-12-19T19:12:36Z Markup By 2023-07-27T20:06:00Z Referred To 2023-07-20T13:00:45Z H. Rept. 118-324 To amend the Securities Exchange Act of 1934 to provide for the registration of proxy advisory firms, and for other purposes. 118 4589 HR 2023-07-12 Referred to the House Committee on Financial Services. Related bill CRS To amend the Securities Exchange Act of 1934 to provide for liability for certain failures to disclose material information in connection with proxy voting advice, and for other purposes. 118 4590 HR 2023-07-12 Referred to the House Committee on Financial Services. Related bill CRS Protecting Retail Investors’ Savings Act 118 4600 HR 2023-07-13 Referred to the House Committee on Financial Services. Related bill CRS To authorize the exclusion of shareholder proposals from proxy or consent solicitation material if the subject matter of the shareholder proposal is environmental, social, or political. 118 4640 HR 2023-07-14 Referred to the House Committee on Financial Services. Related bill CRS Performance over Politics Act 118 4641 HR 2023-07-14 Referred to the House Committee on Financial Services. Related bill CRS Empowering Shareholders Act of 2023 118 4645 HR 2023-07-14 Referred to the House Committee on Financial Services. Related bill CRS To amend the Securities Exchange Act of 1934 to provide for duties of certain investment advisors, asset managers, and pension funds with respect to voting on shareholder proposals, and for other purposes. 118 4648 HR 2023-07-14 Referred to the House Committee on Financial Services. Related bill CRS Protecting American’s Savings Act 118 4656 HR 2023-07-14 Referred to the House Committee on Financial Services. Related bill CRS To clarify that an issuer may exclude a shareholder proposal pursuant to section 240.14a-8(i) of title 17, Code of Federal Regulations, without regard to whether such proposal relates to a significant social policy issue. 118 4657 HR 2023-07-14 Referred to the House Committee on Financial Services. Related bill CRS Corporate Governance Examination Act 118 4662 HR 2023-07-14 Referred to the House Committee on Financial Services. Related bill CRS 2023-12-19 Placed on the Union Calendar, Calendar No. 263. Calendars H12410 2 House floor actions U00263 2023-12-19 Reported (Amended) by the Committee on Financial Services. H. Rept. 118-324. Committee H12200 2 House floor actions hsba00 Financial Services Committee 2023-12-19 Reported (Amended) by the Committee on Financial Services. H. Rept. 118-324. Committee 5000 9 Library of Congress hsba00 Financial Services Committee 2023-07-27 hsba00 Financial Services Committee 1 House committee actions Ordered to be Reported (Amended) by the Yeas and Nays: 29 - 21. Committee 2023-07-27 hsba00 Financial Services Committee 1 House committee actions Committee Consideration and Mark-up Session Held Committee 2023-07-20 Referred to the House Committee on Financial Services. IntroReferral H11100 2 House floor actions hsba00 Financial Services Committee 2023-07-20 Introduced in House IntroReferral Intro-H 9 Library of Congress 2023-07-20 Introduced in House IntroReferral 1000 9 Library of Congress S001213 Rep. Steil, Bryan [R-WI-1] Bryan Steil R WI 1 N Finance and Financial Sector Bank accounts, deposits, capital 2024-06-27T14:52:01Z Congressional oversight 2024-06-27T15:11:37Z Corporate finance and management 2024-06-27T15:01:42Z Economic performance and conditions 2024-06-27T15:11:53Z Employee benefits and pensions 2024-06-27T15:03:36Z Financial services and investments 2024-06-27T14:50:56Z Licensing and registrations 2024-06-27T15:04:36Z Performance measurement 2024-06-27T15:06:34Z Political movements and philosophies 2024-06-27T15:01:35Z Securities 2024-06-27T15:12:41Z Finance and Financial Sector 2023-07-31T14:30:23Z

00 2023-07-20 Introduced in House 2024-08-07T15:32:32Z Protecting Americans’ Retirement Savings from Politics ActThis bill revises laws and regulations regarding shareholder proposals, the proxy voting process, and proxy advisory firms. (Public companies regularly hold shareholder meetings during which proposals, including those presented by shareholders, can be voted on by eligible shareholders. Voting is held in-person or by proxy. To vote by proxy, shareholders fill out proxy cards with voting directions and submit it to a designated representative. Proxy advisory firms provide voting services and advice to institutional investors.)The bill allows an issuer of securities to exclude certain shareholder proposals from its proxy materials, including proposals that address the same subject matter as a previously offered proposal or those related to environmental, social, or political issues.Passively managed funds (e.g., index funds) that vote shares on behalf of fund investors in proxy shareholder votes must adhere to requirements set forth by the bill, including by voting shares according to the instructions of the beneficial owner of the securities. The bill also creates new requirements for proxy advisory firms. Under the bill, a proxy advisory firm is prohibited from using robovoting and must register with the Securities and Exchange Commission (SEC) to provide proxy-voting advice to a client using interstate commerce. The bill establishes a private right of action against a proxy advisory firm and allows these firms to be held liable for failing to disclose material information or making false or misleading statements in the context of the sale or purchase of securities.The bill also requires various disclosures and reporting to the SEC.

07 2023-12-19 Reported to House 2024-08-19T13:53:24Z Protecting Americans’ Retirement Savings from Politics ActThis bill revises laws and regulations regarding shareholder proposals, the proxy voting process, and proxy advisory firms. (Public companies regularly hold shareholder meetings during which proposals, including those presented by shareholders, can be voted on by eligible shareholders. Voting is held in-person or by proxy. To vote by proxy, shareholders fill out proxy cards with voting directions and submit it to a designated representative. Proxy advisory firms provide voting services and advice to institutional investors.)The bill allows an issuer of securities to exclude certain shareholder proposals from its proxy materials, including proposals that address the same subject matter as a previously offered proposal or those related to environmental, social, or political issues.Passively managed funds (e.g., index funds) that vote shares on behalf of fund investors in proxy shareholder votes must adhere to requirements set forth by the bill, including by voting shares according to the instructions of the beneficial owner of the securities. The bill also creates new requirements for proxy advisory firms. Under the bill, a proxy advisory firm is prohibited from using robovoting and must register with the Securities and Exchange Commission (SEC) to provide proxy-voting advice to a client using interstate commerce. The bill establishes a private right of action against a proxy advisory firm and allows these firms to be held liable for failing to disclose material information or making false or misleading statements in the context of the sale or purchase of securities.The bill also requires various disclosures and reporting to the SEC.

Protecting Americans’ Retirement Savings from Politics Act Display Title 45 Protecting Americans’ Retirement Savings from Politics Act 2024-07-24T15:19:31Z Short Title(s) as Introduced 101 Protecting Americans’ Retirement Savings from Politics Act 2024-05-24T13:38:22Z Introduced in House IH Short Title(s) as Reported to House 102 Protecting Americans’ Retirement Savings from Politics Act 2024-05-24T13:34:49Z H House Reported in House RH Official Title as Introduced 6 To make revisions to the Federal securities laws with respect to shareholder proposals, proxy voting, and the registration of proxy advisory firms, and for other purposes. 2024-03-18T21:12:22Z Introduced in House IH Reported in House 2023-12-19T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-118hr4767rh/xml/BILLS-118hr4767rh.xml Introduced in House 2023-07-20T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-118hr4767ih/xml/BILLS-118hr4767ih.xml 2023-12-19 Placed on the Union Calendar, Calendar No. 263. 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.