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Putting Investors First Act of 2023

USA118th CongressHR-448| House 
| Updated: 1/24/2023
Bryan Steil

Bryan Steil

Republican Representative

Wisconsin

Cosponsors (21)
Elise M. Stefanik (Republican)Jake LaTurner (Republican)Warren Davidson (Republican)Scott Franklin (Republican)Carlos A. Gimenez (Republican)William R. Timmons (Republican)Earl L. "Buddy" Carter (Republican)J. French Hill (Republican)A. Drew Ferguson (Republican)Daniel Meuser (Republican)Andy Barr (Republican)David P. Joyce (Republican)Mike Flood (Republican)Kelly Armstrong (Republican)Scott Fitzgerald (Republican)Blaine Luetkemeyer (Republican)Byron Donalds (Republican)Mark E. Amodei (Republican)John W. Rose (Republican)Burgess Owens (Republican)Brian Babin (Republican)

Financial Services Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Putting Investors First Act of 2023 This bill requires a proxy advisory firm to register with the Securities and Exchange Commission and prohibits an unregistered proxy advisory firm from using interstate commerce to provide proxy-voting advice, research, analysis, or recommendations to any client. With respect to these firms, the bill (1) establishes procedures for both registration and termination of registration; (2) requires each firm to employ an ombudsman, designate a compliance officer, and publicly disclose conflicts of interest; (3) allows issuers to assess and comment on proxy voting recommendations; and (4) prohibits unfair, coercive, or abusive practices. The bill establishes a private right of action against a proxy advisory firm that endorses an approved proposal that is not supported by the issuer and is found to be illegal.
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Timeline

Bill from Previous Congress

HR 117-9527
Putting Investors First Act of 2022
Jan 24, 2023
Introduced in House
Jan 24, 2023
Referred to the House Committee on Financial Services.
Jun 1, 2023

Latest Companion Bill Action

S 118-1799
Introduced in Senate
  • Bill from Previous Congress

    HR 117-9527
    Putting Investors First Act of 2022


  • January 24, 2023
    Introduced in House


  • January 24, 2023
    Referred to the House Committee on Financial Services.


  • June 1, 2023

    Latest Companion Bill Action

    S 118-1799
    Introduced in Senate

Finance and Financial Sector

Related Bills

  • S 118-1799: Putting Investors First Act of 2023

Putting Investors First Act of 2023

USA118th CongressHR-448| House 
| Updated: 1/24/2023
Putting Investors First Act of 2023 This bill requires a proxy advisory firm to register with the Securities and Exchange Commission and prohibits an unregistered proxy advisory firm from using interstate commerce to provide proxy-voting advice, research, analysis, or recommendations to any client. With respect to these firms, the bill (1) establishes procedures for both registration and termination of registration; (2) requires each firm to employ an ombudsman, designate a compliance officer, and publicly disclose conflicts of interest; (3) allows issuers to assess and comment on proxy voting recommendations; and (4) prohibits unfair, coercive, or abusive practices. The bill establishes a private right of action against a proxy advisory firm that endorses an approved proposal that is not supported by the issuer and is found to be illegal.
View Full Text

Suggested Questions

Get AI-generated questions to help you understand this bill better

Timeline

Bill from Previous Congress

HR 117-9527
Putting Investors First Act of 2022
Jan 24, 2023
Introduced in House
Jan 24, 2023
Referred to the House Committee on Financial Services.
Jun 1, 2023

Latest Companion Bill Action

S 118-1799
Introduced in Senate
  • Bill from Previous Congress

    HR 117-9527
    Putting Investors First Act of 2022


  • January 24, 2023
    Introduced in House


  • January 24, 2023
    Referred to the House Committee on Financial Services.


  • June 1, 2023

    Latest Companion Bill Action

    S 118-1799
    Introduced in Senate
Bryan Steil

Bryan Steil

Republican Representative

Wisconsin

Cosponsors (21)
Elise M. Stefanik (Republican)Jake LaTurner (Republican)Warren Davidson (Republican)Scott Franklin (Republican)Carlos A. Gimenez (Republican)William R. Timmons (Republican)Earl L. "Buddy" Carter (Republican)J. French Hill (Republican)A. Drew Ferguson (Republican)Daniel Meuser (Republican)Andy Barr (Republican)David P. Joyce (Republican)Mike Flood (Republican)Kelly Armstrong (Republican)Scott Fitzgerald (Republican)Blaine Luetkemeyer (Republican)Byron Donalds (Republican)Mark E. Amodei (Republican)John W. Rose (Republican)Burgess Owens (Republican)Brian Babin (Republican)

Financial Services Committee

Finance and Financial Sector

Related Bills

  • S 118-1799: Putting Investors First Act of 2023
  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted