# 119-hr-4098: Stopping Proxy Advisor Racketeering Act

119-hr-4098, Stopping Proxy Advisor Racketeering Act, is a 119th Congress bill sponsored by Rep. Fitzgerald, Scott [R-WI-5] (R-WI); status introduced; PRIA reads it as touching household money (as of 2026-04-21).

- Canonical: https://policyrisk.com/legislation/119-hr-4098
- As of: 2026-04-21
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: 119-hr-4098
- Congress: 119
- Title: Stopping Proxy Advisor Racketeering Act
- Status: introduced
- Introduced: 2025-06-24
- Sponsor: Rep. Fitzgerald, Scott [R-WI-5] (R-WI)
- Cosponsors: 1
- Policy area: Finance and Financial Sector
- Touches household money: yes
- Last recorded action: 2026-04-21

## Summary

**Stops proxy advisory firms from issuing voting advice when they have conflicts of interest.** This bill would bar specified conflict practices and give the Securities and Exchange Commission authority to penalize firms that violate the rules. - Proxy advisory firms: Would be unlawful to provide proxy voting advice if the firm has a conflict, including four listed practices: offering consulting services to a registrant, changing recommendations based on subscriptions, providing advice while offering stewardship or engagement services to related parties, or joining an organization that supports a related shareholder proposal. - Registrants and shareholders: Names issuers (registrants) in the conflict rules and restricts when shareholders can receive proxy voting recommendations to cases where the advisory firm lacks the specified conflicts. - Enforcement and scope: Authorizes the Securities and Exchange Commission to bring proceedings and impose administrative civil penalties under the standards of section 21B and procedures of section 21C. The bill also defines key terms such as consulting services, proxy advisory firm, proxy voting advice, and registrant to guide enforcement.

## Cosponsors (1)

- Rep. Wied, Tony [R-WI-8] (R-WI), 2025-07-02T00:00:00.000Z

## Provisions PRIA read

- New conflict rules for proxy voting firms: mixed, medium. This bill would set conflict-of-interest rules for proxy voting firms. Firms would be barred from giving advice when they have listed conflicts, like consulting for the company, changing methods based on who pays, advising another party on the same matter, or joining a group backing the proposal. T…

## Related bills

- 119-hr-3151: SHIPS for America Act of 2025
- 119-hr-4669: FEMA Act of 2025
- 119-hr-21: Born-Alive Abortion Survivors Protection Act
- 119-hr-1181: Protecting Privacy in Purchases Act
- 119-hr-987: Fair Access to Banking Act
- 119-hr-7300: Make Elections Great Again Act

## Sources
- [119-hr-4098 on Congress.gov](https://www.congress.gov/bill/119th-congress/house-bill/4098)

## Related
- [119-hr-3151: SHIPS for America Act of 2025](https://policyrisk.com/legislation/119-hr-3151)
- [119-hr-4669: FEMA Act of 2025](https://policyrisk.com/legislation/119-hr-4669)
- [119-hr-21: Born-Alive Abortion Survivors Protection Act](https://policyrisk.com/legislation/119-hr-21)
- [119-hr-1181: Protecting Privacy in Purchases Act](https://policyrisk.com/legislation/119-hr-1181)
- [119-hr-987: Fair Access to Banking Act](https://policyrisk.com/legislation/119-hr-987)
- [119-hr-7300: Make Elections Great Again Act](https://policyrisk.com/legislation/119-hr-7300)
- [All bills in Congress](https://policyrisk.com/legislation)

Source: PRIA, https://policyrisk.com/legislation/119-hr-4098 (as of 2026-04-21).