HR 4648
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.
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Sign in to take action- Introduced
- Passed House
- Passed Senate
- To President
- Became Law
Bill overview
This bill aims to increase transparency and accountability in how institutional investment managers, such as asset managers and pension funds, vote on shareholder proposals. It requires these managers to report annually on their voting decisions, including how they align with proxy advisory firm recommendations and whether those decisions are in the best economic interest of their shareholders. Larger managers will also be required to inform customers that shareholders aren’t obligated to vote on every proposal and to conduct economic analyses before voting on certain proposals.
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