S 4241
117th Congress
Senate
Finance and Financial Sector
Financial services and investments
Securities
INDEX Act
Everywhere this bill has been
3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jun 14, 2022
Committee on Banking, Housing, and Urban Affairs. Hearings held.
May 18, 2022
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
May 18, 2022
Introduced in Senate
Plain-English summary
INvestor Democracy is EXpected Act or the INDEX Act
This bill establishes guidelines for passively managed funds (e.g., index funds) that vote shares on behalf of fund investors in proxy shareholder votes. Under the bill, these funds generally must vote shares on a proportional basis according to instructions from fund investors.
The bill establishes an exemption for routine matters and matters requiring approval of a majority of outstanding securities. Additionally, the bill establishes a safe harbor from these requirements for investment advisers.
What's happening now
Committee on Banking, Housing, and Urban Affairs. Hearings held.
Committees of jurisdiction
1