HR 4656
118th Congress
House
Finance and Financial Sector
Protecting American’s Savings Act
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jul 14, 2023
Referred to the House Committee on Financial Services.
Jul 14, 2023
Introduced in House
Plain-English summary
Protecting American’s Savings Act
This bill prohibits the use of robovoting, or automatic voting in a shareholder vote according to the recommendations of a proxy advisory firm. (Proxy advisory firms provide voting services and advice to clients who invest in public companies for proposals presented at shareholder meetings.) Further, the bill prohibits institutional investors from outsourcing any such voting decisions. Finally, under the bill, no person is required to vote in a shareholder vote.
What's happening now
Referred to the House Committee on Financial Services.
Committees of jurisdiction
1