Bill > HR4790

This bill, titled the "Prioritizing Economic Growth Over Woke Policies Act", has several key provisions: - It amends securities laws to limit the Securities and Exchange Commission's (SEC) ability to require disclosure of non-material information by issuers, and requires the SEC to justify any non-material disclosure mandates. - It establishes a Public Company Advisory Committee to provide the SEC with advice on its rules, regulations, and policies related to public companies. - It requires the SEC to study the impact of certain European Union directives on corporate sustainability and reporting on U.S. companies, consumers, investors, and the economy. - It places restrictions on the SEC's ability to compel the inclusion or discussion of shareholder proposals in proxy statements. - It provides various exclusions for issuers to exclude certain shareholder proposals, such as those related to environmental, social, and political issues, from their proxy materials. - It imposes new registration and disclosure requirements on proxy advisory firms. - It limits the ability of investment advisers, asset managers, and pension funds to consider non-pecuniary factors when making investment decisions on behalf of clients. - It prohibits the practice of "robovoting" by institutional investors and places restrictions on the ability of institutional investors to outsource voting decisions. - It requires federal banking regulators to provide advance notice and economic analysis when proposing rules intended to align with recommendations from certain international organizations. - It removes the Vice Chairman for Supervision designation at the Federal Reserve.

Business and Industry, Housing and Urban Affairs

https://www.congress.gov/bill/118th-congress/house-bill/4790/all-info