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HR 448 118th Congress House Finance and Financial Sector

Putting Investors First Act of 2023

Introduced: January 25, 2023 Introduced by: Steil, Bryan Republican · Wisconsin See on congress.gov
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This bill died when the 118th Congress ended
It never became law before the 118th Congress (2023–2024) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jan 24, 2023
Referred to the House Committee on Financial Services.
Jan 24, 2023
Introduced in House
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 Plain-English summary Congressional Research Service

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.

What's happening now January 24, 2023

Referred to the House Committee on Financial Services.

 Related & companion bills 1
  • S 1799 Identical bill Putting Investors First Act of 2023
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Lobbying activity 6

Registered lobbyists who named this bill in their disclosure filings. Source: federal Lobbying Disclosure Act filings.

 Cosponsors 21
All 21 Republican 17
Luetkemeyer, Blaine
· Jul 17, 2023
 R
Donalds, Byron
Florida · Jun 20, 2023
 R
Babin, Brian
Texas · Mar 27, 2023
 R
Timmons, William R.
South Carolina · Mar 27, 2023
LaTurner, Jake
· Mar 9, 2023
 R
Carter, Earl L. "Buddy"
Georgia · Feb 17, 2023
 R
Franklin, Scott
Florida · Feb 9, 2023
Armstrong, Kelly
· Jan 25, 2023
 R
Owens, Burgess
Utah · Jan 25, 2023
 R
Amodei, Mark E.
Nevada · Jan 24, 2023
 R
Barr, Andy
Kentucky · Jan 24, 2023
 R
Davidson, Warren
Ohio · Jan 24, 2023
Ferguson, A.
· Jan 24, 2023
 R
Fitzgerald, Scott
Wisconsin · Jan 24, 2023
 R
Flood, Mike
Nebraska · Jan 24, 2023
 R
Gimenez, Carlos A.
Florida · Jan 24, 2023
 R
Hill, J. French
Arkansas · Jan 24, 2023
 R
Joyce, David P.
Ohio · Jan 24, 2023
 R
Meuser, Daniel
Pennsylvania · Jan 24, 2023
 R
Rose, John W.
Tennessee · Jan 24, 2023
 R
Stefanik, Elise M.
New York · Jan 24, 2023
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 448: Putting Investors First Act of 2023. 118th Congress. Open America. https://openamerica.io/bill/118-HR-448/
MLA
"H.R. 448: Putting Investors First Act of 2023." 118th Congress, 2026, Open America, https://openamerica.io/bill/118-HR-448/.
Bluebook (legal)
H.R. 448, 118th Cong. (2026), https://openamerica.io/bill/118-HR-448/.
Markdown link
[H.R. 448: Putting Investors First Act of 2023](https://openamerica.io/bill/118-HR-448/)
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