HB4662: Corporate Governance Examination Act
- 1Introduced (current step)
- 2Passed One Chamber
- 3Passed Both Chambers
- 4Became Law
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Bill information
Summary
To require the Securities and Exchange Commission to conduct a study of certain issues with respect to shareholder proposals, proxy advisory firms, and the proxy process, and for other purposes.
Plain-language summary
This bill asks the Securities and Exchange Commission (SEC), which oversees stock markets and investment firms, to study how shareholder proposals work in U.S. corporations. A shareholder proposal is a suggestion from a company's investors about how the company should operate. The bill also requires the SEC to examine proxy advisory firms, which are companies that advise investors how to vote on corporate matters. The study would look at potential problems with the current proxy process—the system companies use to gather votes from shareholders on important decisions. The bill is currently introduced, meaning it has been submitted to Congress but not yet assigned to a for review.
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HB4662: Corporate Governance Examination Act