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New Rules for Proxy Advisory Firms and Investment Funds

This act requires proxy advisory firms to register, increasing their transparency and accountability. It also introduces new requirements for investment and pension funds to better protect investors and beneficiaries. The goal is to ensure investment decisions are made in the best financial interest of citizens.
Key points
Proxy advisory firms must register and disclose information about their operations, including potential conflicts of interest.
Investment and pension funds will need to report how they use proxy advisory firm recommendations and how these decisions impact their clients.
Automatic voting ('robovoting') based on proxy advisory firm recommendations is prohibited to ensure more informed decisions.
It is now easier to exclude shareholder proposals from voting that have been repeatedly rejected or are not relevant to the company's business.
Investment funds promoting 'ESG' (environmental, social, governance) investments must disclose their performance and fees compared to traditional funds.
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Expired
Citizen Poll
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Additional Information
Print number: 117_HR_9527
Sponsor: Rep. Steil, Bryan [R-WI-1]
Process start date: 2022-12-14
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Putting Investors First Act of 2022

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HR_9527.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2022-12-14.

What are the main provisions?

Key points include:

  • Proxy advisory firms must register and disclose information about their operations, including potential conflicts of interest.
  • Investment and pension funds will need to report how they use proxy advisory firm recommendations and how these decisions impact their clients.
  • Automatic voting ('robovoting') based on proxy advisory firm recommendations is prohibited to ensure more informed decisions.
  • It is now easier to exclude shareholder proposals from voting that have been repeatedly rejected or are not relevant to the company's business.
  • Investment funds promoting 'ESG' (environmental, social, governance) investments must disclose their performance and fees compared to traditional funds.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Steil, Bryan [R-WI-1].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Financial Services.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-28.

CATEGORIES

Economy Courts and Law