Bill > HR8521

This bill, the INvestor Democracy is EXpected Act (INDEX Act), amends the Investment Advisers Act of 1940 to require investment advisers for passively managed funds to arrange for pass-through voting of proxies for certain securities. Specifically, the bill requires investment advisers with more than 1% voting authority over a company's securities to vote those securities in proportion to the voting instructions received from the fund's investors. The bill also permits investment advisers to vote on routine matters without obtaining voting instructions, and allows for "mirror voting" on matters requiring majority approval. Additionally, the bill requires investment advisers to disseminate proxy-related materials to fund investors and allows them to provide voting recommendations. Finally, the bill amends the Securities Exchange Act of 1934 to include "voting instruction" as a type of consent that can be obtained from customers.

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https://www.congress.gov/bill/117th-congress/house-bill/8521/all-info