119th Congress · introduced in the House · May 14, 2025
To amend the Securities Exchange Act of 1934 to require certain disclosures by institutional investment managers in connection with proxy advisory firms, and for other purposes.
Official title from Congress.gov
Latest action (May 14, 2025): Referred to the House Committee on Financial Services.
View on Congress.govPolicy area: Finance and Financial Sector
Congressional Research Service summary, version: Introduced in House (May 14, 2025)
This bill requires certain institutional investment managers that use proxy advisory firms to disclose information related to voting on shareholder proposals. (Proxy advisory firms provide voting services and advice to institutional investors in public companies for proposals presented at shareholder meetings.)
Generally, institutional investment managers must report annually (1) how the manager voted on each shareholder proposal, (2) the percentage of votes cast in accordance with proxy advisory firm recommendations, and (3) explanations such as how votes are reconciled with fiduciary duties. Managers must also certify that votes were based solely on the best economic interest of the shareholders.
In addition, large institutional investment managers must (1) inform customers that shareholders are not required to vote on every proposal; (2) on certain votes, determine through an economic analysis the vote that is in the best economic interest of shareholders; and (3) report any such analysis annually.
No cosponsors.
Includes amendment, cloture, and procedural votes. Each is labeled with its exact question; only a passage question is a vote to pass the bill.
No recorded roll calls on this bill in coverage.
Referred to the House Committee on Financial Services.
Introduced in House
Introduced in House
Actions from Congress.gov, newest first.
LD-2 reports whose issue descriptions explicitly cite this bill (bill type and number validated against Congress.gov records). A citation does not establish the client's position or any contact with a member.
Loading lobbying reportsCoverage: reports for 2025 onward, posted Jan 1, 2025 through Oct 24, 2026.
7 citations.
AMERICAN PROPERTY CASUALTY INSURANCE ASSOCIATION · lobbying firm or registrant: AMERICAN PROPERTY CASUALTY INSURANCE ASSOCIATION FKA PROPERTY CASUALTY INSURERS ASSOC. OF AMERICA
2025 Q3 report (Jul 1, 2025 – Sep 30, 2025) · amended · posted Oct 23, 2026 · issue area: Financial Institutions/Investments/Securities
$1,410,000
Spent on own lobbying
…ures **Issues lobbied without specific bill number: SEC Cyber Incident Reporting H.R. 257 Climate Related Disclosures H.R. 3354 Financial Treatment of Insurers H.R. 3402 Proxy Advisor Firms
Congress inferred from the report year; bill number matches Congress.gov records and the bill predates the report; no title was cited with it. The amount is lobbying spending for every issue on this report, not this bill alone, and none of it is paid to any member of Congress. View filing
AMERICAN PROPERTY CASUALTY INSURANCE ASSOCIATION · lobbying firm or registrant: AMERICAN PROPERTY CASUALTY INSURANCE ASSOCIATION FKA PROPERTY CASUALTY INSURERS ASSOC. OF AMERICA
2026 Q3 report (Jul 1, 2026 – Sep 30, 2026) · posted Oct 20, 2026 · issue area: Financial Institutions/Investments/Securities
$1,600,000
Spent on own lobbying
…ures **Issues lobbied without specific bill number: SEC Cyber Incident Reporting H.R. 257 Climate Related Disclosures H.R. 3354 Financial Treatment of Insurers H.R. 3402 Proxy Advisor Firms H.R. 7128 Terrorism Risk Insurance S. 3711 Financial Institutions/Investments/Securities H.R. 8398 Financial Institutions S. 5158 Financial…
Congress inferred from the report year; bill number matches Congress.gov records and the bill predates the report; no title was cited with it. The amount is lobbying spending for every issue on this report, not this bill alone, and none of it is paid to any member of Congress. View filing
AMERICAN PROPERTY CASUALTY INSURANCE ASSOCIATION · lobbying firm or registrant: AMERICAN PROPERTY CASUALTY INSURANCE ASSOCIATION FKA PROPERTY CASUALTY INSURERS ASSOC. OF AMERICA
2026 Q2 report (Apr 1, 2026 – Jun 30, 2026) · posted Jul 22, 2026 · issue area: Financial Institutions/Investments/Securities
$2,140,000
Spent on own lobbying
…ures **Issues lobbied without specific bill number: SEC Cyber Incident Reporting H.R. 257 Climate Related Disclosures H.R. 3354 Financial Treatment of Insurers H.R. 3402 Proxy Advisor Firms H.R. 7128 Terrorism Risk Insurance S. 3711 Financial Institutions/Investments/Securities H.R. 8398 Financial Institutions
Congress inferred from the report year; bill number matches Congress.gov records and the bill predates the report; no title was cited with it. The amount is lobbying spending for every issue on this report, not this bill alone, and none of it is paid to any member of Congress. View filing
AMERICAN PROPERTY CASUALTY INSURANCE ASSOCIATION · lobbying firm or registrant: AMERICAN PROPERTY CASUALTY INSURANCE ASSOCIATION FKA PROPERTY CASUALTY INSURERS ASSOC. OF AMERICA
2026 Q1 report (Jan 1, 2026 – Mar 31, 2026) · posted Apr 20, 2026 · issue area: Financial Institutions/Investments/Securities
$1,440,000
Spent on own lobbying
…ures **Issues lobbied without specific bill number: SEC Cyber Incident Reporting H.R. 257 Climate Related Disclosures H.R. 3354 Financial Treatment of Insurers H.R. 3402 Proxy Advisor Firms H.R. 7128 Terrorism Risk Insurance S. 3711 Financial Institutions/Investments/Securities
Congress inferred from the report year; bill number matches Congress.gov records and the bill predates the report; no title was cited with it. The amount is lobbying spending for every issue on this report, not this bill alone, and none of it is paid to any member of Congress. View filing
AMERICAN PROPERTY CASUALTY INSURANCE ASSOCIATION · lobbying firm or registrant: AMERICAN PROPERTY CASUALTY INSURANCE ASSOCIATION FKA PROPERTY CASUALTY INSURERS ASSOC. OF AMERICA
2025 Q4 report (Oct 1, 2025 – Dec 31, 2025) · posted Jan 20, 2026 · issue area: Financial Institutions/Investments/Securities
$1,400,000
Spent on own lobbying
…ures **Issues lobbied without specific bill number: SEC Cyber Incident Reporting H.R. 257 Climate Related Disclosures H.R. 3354 Financial Treatment of Insurers H.R. 3402 Proxy Advisor Firms
Congress inferred from the report year; bill number matches Congress.gov records and the bill predates the report; no title was cited with it. The amount is lobbying spending for every issue on this report, not this bill alone, and none of it is paid to any member of Congress. View filing
CERES, INC. · lobbying firm or registrant: CERES, INC.
2025 Q3 report (Jul 1, 2025 – Sep 30, 2025) · amended · posted Oct 21, 2025 · issue area: Financial Institutions/Investments/Securities
$70,000
Spent on own lobbying
…rement Savings Act), which would codify a 2020 rule prohibiting ERISA fiduciaries from considering ESG factors, even when financially material. We also opposed H.R. 3402, which would impose duplicative and burdensome disclosure requirements on institutional investors regarding proxy voting, including alignment with proxy adviso…
Congress inferred from the report year; bill number matches Congress.gov records and the bill predates the report; no title was cited with it. The amount is lobbying spending for every issue on this report, not this bill alone, and none of it is paid to any member of Congress. View filing
AMERICAN PROPERTY CASUALTY INSURANCE ASSOCIATION · lobbying firm or registrant: AMERICAN PROPERTY CASUALTY INSURANCE ASSOCIATION FKA PROPERTY CASUALTY INSURERS ASSOC. OF AMERICA
2025 Q2 report (Apr 1, 2025 – Jun 30, 2025) · posted Jul 22, 2025 · issue area: Financial Institutions/Investments/Securities
$1,740,000
Spent on own lobbying
…ures **Issues lobbied without specific bill number: SEC Cyber Incident Reporting H.R. 257 Climate Related Disclosures H.R. 3354 Financial Treatment of Insurers H.R. 3402 Proxy Advisor Firms
Congress inferred from the report year; bill number matches Congress.gov records and the bill predates the report; no title was cited with it. The amount is lobbying spending for every issue on this report, not this bill alone, and none of it is paid to any member of Congress. View filing