HB4590: To amend the Securities Exchange Act of 1934 to provide for liability for certain failures to disclose material information in connection with proxy voting advice, and for other purposes.
- 1Introduced (current step)
- 2Passed One Chamber
- 3Passed Both Chambers
- 4Became Law
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Bill information
Summary
To amend the Securities Exchange Act of 1934 to provide for liability for certain failures to disclose material information in connection with proxy voting advice, and for other purposes.
Plain-language summary
This bill would amend a law that regulates securities markets and stock trading to hold proxy advisors legally responsible for failing to disclose important information when they give voting advice. Proxy advisors are firms that recommend how shareholders should vote on company matters. The bill would create liability, meaning these firms could be sued for withholding material facts—details that would affect a shareholder's voting decision. The bill is currently in the introduction stage and has not yet been assigned to a .
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HB4590: To amend the Securities Exchange Act of 1934 to provide for liability for certa…