Bill
Bill > HR4590
US HR4590
US HR4590To amend the Securities Exchange Act of 1934 to provide for liability for certain failures to disclose material information in connection with proxy voting advice, and for other purposes.
summary
Introduced
07/12/2023
07/12/2023
In Committee
07/12/2023
07/12/2023
Crossed Over
Passed
Dead
01/03/2025
01/03/2025
Introduced Session
118th Congress
Bill Summary
A BILL To amend the Securities Exchange Act of 1934 to provide for liability for certain failures to disclose material information in connection with proxy voting advice, and for other purposes.
AI Summary
This bill amends the Securities Exchange Act of 1934 to provide for liability for certain failures to disclose material information in connection with proxy voting advice. Specifically, it states that the failure to disclose information about a proxy voting advice business's methodology, sources of information, or conflicts of interest, or the making of a material misstatement regarding the proxy voting advice, shall be considered false or misleading with respect to a material fact. This applies to businesses that market their expertise as a provider of proxy voting advice separately from other forms of investment advice and sell such advice for a fee.
Committee Categories
Business and Industry
Sponsors (1)
Last Action
Referred to the House Committee on Financial Services. (on 07/12/2023)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.congress.gov/bill/118th-congress/house-bill/4590/all-info |
| BillText | https://www.congress.gov/118/bills/hr4590/BILLS-118hr4590ih.pdf |
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