Amends the Securities Exchange Act of 1934 to require institutional investment managers to disclose voting decisions and analyses related to proxy.
The bill amends the Securities Exchange Act of 1934 to mandate that institutional investment managers who use proxy advisory firms and exercise voting power must file annual reports with the Securities and Exchange Commission. These reports must include explanations of voting decisions on shareholder proposals, the percentage of votes consistent with proxy advisory firm recommendations, and details on how proxy advisory firm recommendations were considered.
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