Financial Services Committee
- Referred To
Introduced: May 14, 2025
Latest action date: May 14, 2025
Latest development
Referred to the House Committee on Financial Services.
Status detail: The most advanced recorded stage is committee consideration.
Plain-language overview
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.)
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.
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.
Civixly topics
Civixly topics make federal and state legislation comparable. They are derived from the official CRS policy area and legislative subjects.
Official CRS policy area
Finance and Financial Sector
Committees and subcommittees that received, reviewed, marked up, or reported this legislation.
Proposed changes to this measure, with their latest official outcome or action from Congress.gov.
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Checked against Congress.gov Sep 15, 2026.
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Referred to the House Committee on Financial Services.
Introduced in House
Introduced in House
Recorded House and Senate votes connected to this bill. Your representatives appear first when available.
No connected roll-call votes are currently available for this bill.
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