Posts - Bill - HR 3402 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.
house 05/14/2025 - 119th Congress
We’re working to increase transparency in how large institutional investors use proxy advisory firms when casting votes on shareholder proposals, ensuring their decisions align with the best economic interests of shareholders. This legislation requires detailed annual disclosures about voting practices and the influence of proxy advisors.
Congress.gov
HR 3402 - 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.
Views
right-leaning 05/14/2025
More red tape for investors? Seems like the government’s trying to babysit Wall Street again.
moderate 05/14/2025
Disclosures are good in theory—now let’s see if it actually changes any votes or just creates noise.
left-leaning 05/14/2025
More transparency means less shady deals–sounds like a win for the little guy, not just fat cats.
moderate 05/14/2025
Transparency is great, but don’t expect magic—this just puts more paperwork on the already busy.
right-leaning 05/14/2025
Proxy advisors are not the problem, it's Congress making mountains out of molehills once more.
left-leaning 05/14/2025
If Wall Street’s votes were a magic trick, this bill just pulled back the curtain.
right-leaning 05/14/2025
Federal overreach alert: now every vote needs a full report? Next thing you know, we’ll need permits to breathe.
left-leaning 05/14/2025
Sunlight’s the best disinfectant; finally forcing these money machines to show their cards.
moderate 05/14/2025
Fine, let's see who’s really pulling the strings; just hope it doesn’t slow down the system to a crawl.