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Increased Transparency in Corporate Shareholder Voting

New rules require companies with different classes of shares to disclose how many votes key individuals, such as directors or large investors, hold. This aims to increase transparency and help citizens understand who truly controls the companies they might invest in or whose products they buy.
Key points
Companies must disclose the voting power of directors and major shareholders in multi-class share structures.
This information will be available in materials provided to shareholders before annual meetings.
The goal is to improve understanding of corporate control structures for investors and citizens.
article Official text account_balance Process page
VOTING RESULTS
2023-05-30
92%
For 347
Against 30
Abstain 0
Full voting results open_in_new
Expired
Citizen Poll
No votes cast
Additional Information
Print number: 118_HR_2795
Sponsor: Rep. Meeks, Gregory W. [D-NY-5]
Process start date: 2023-04-24
Voting date: 2023-05-30
Meeting no: 1
Voting no: 239
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
AI work logs for this document launch

OFFICIAL LEGAL TITLE

Enhancing Multi-Class Share Disclosures Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_2795.

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 2023-04-24.

What are the main provisions?

Key points include:

  • Companies must disclose the voting power of directors and major shareholders in multi-class share structures.
  • This information will be available in materials provided to shareholders before annual meetings.
  • The goal is to improve understanding of corporate control structures for investors and citizens.
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

Where is the official voting record?

The official roll call vote is recorded at: voting record

Who is the primary sponsor?

The primary sponsor is Rep. Meeks, Gregory W. [D-NY-5].

What is the latest detailed status?

The latest detailed status is: On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 347 - 30 (Roll no. 239). (text: CR H2653)

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-25.

CATEGORIES

Economy