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117-hr-9527117th Congress

Putting Investors First Act of 2022

Sponsored By: Representative Steil, Bryan [R-WI-1]

Unknown

Summary

Putting Investors First Act of 2022 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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Bill Overview

No Economic Impacts Identified for this Bill

Sponsors & CoSponsors

Sponsor

Steil, Bryan [R-WI-1]

WI • R

Cosponsors

  • Rep. Barr, Andy [R-KY-6]

    KY • R

    Sponsored 12/14/2022

  • Rep. Ferguson, A. Drew, IV [R-GA-3]

    GA • R

    Sponsored 12/14/2022

  • Rep. Stefanik, Elise M. [R-NY-21]

    NY • R

    Sponsored 12/14/2022

  • Rep. Rose, John W. [R-TN-6]

    TN • R

    Sponsored 12/14/2022

  • Rep. Davidson, Warren [R-OH-8]

    OH • R

    Sponsored 12/14/2022

  • Rep. Amodei, Mark E. [R-NV-2]

    NV • R

    Sponsored 12/14/2022

  • Rep. Balderson, Troy [R-OH-12]

    OH • R

    Sponsored 12/14/2022

  • Rep. Armstrong, Kelly [R-ND-At Large]

    ND • R

    Sponsored 12/14/2022

  • Rep. Williams, Roger [R-TX-25]

    TX • R

    Sponsored 12/14/2022

  • Rep. Hill, J. French [R-AR-2]

    AR • R

    Sponsored 12/14/2022

  • Rep. Flood, Mike [R-NE-1]

    NE • R

    Sponsored 12/14/2022

  • Rep. LaMalfa, Doug [R-CA-1]

    CA • R

    Sponsored 12/14/2022

  • Rep. Franklin, Scott [R-FL-18]

    FL • R

    Sponsored 12/14/2022

  • Rep. Gooden, Lance [R-TX-5]

    TX • R

    Sponsored 12/14/2022

  • Rep. Davis, Rodney [R-IL-13]

    IL • R

    Sponsored 12/14/2022

  • Rep. Fitzgerald, Scott [R-WI-5]

    WI • R

    Sponsored 12/14/2022

  • Rep. Gimenez, Carlos A. [R-FL-28]

    FL • R

    Sponsored 12/14/2022

  • Rep. Joyce, David P. [R-OH-14]

    OH • R

    Sponsored 12/15/2022

  • Rep. Burgess, Michael C. [R-TX-26]

    TX • R

    Sponsored 12/15/2022

Roll Call Votes

No roll call votes available for this bill.

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