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Hearings

Reforming the Proxy Process to Safeguard Investor Interests

Click here for the LIVE WEBCAST of this hearing.

Click here for the Committee Memorandum.


Legislation

  • H.R. ____, to authorize the exclusion of shareholder proposals from proxy or consent solicitation material if such proposals are substantially similar to previously included proposals.
  • H.R. ____, to authorize the exclusion of shareholder proposals from proxy or consent solicitation material if such proposals substantially implement, substantially duplicate, or are substantially similar to previously included proposals.
  • H.R. ____, to authorize the exclusion of shareholder proposals from proxy or consent solicitation material if the subject matter of the shareholder proposal is environmental, social, or political.
  • H.R. ____, to clarify that an issuer may exclude a shareholder proposal pursuant to section 240.14a-8(i) of title 17, Code of Federal Regulations, without regard to whether such proposal relates to a significant social policy issue.
  • H.R. ____, to amend the Securities Exchange Act of 1934 to prohibit the Securities and Exchange Commission from compelling the discussion of shareholder proposals or proxy or consent solicitation materials.
  • H.R. ____, 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.
  • H.R. ____, to amend the Securities Exchange Act of 1934 to provide for the registration of proxy advisory firms, and for other purposes.
  • H.R. ____, 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.
  • H.R. ____, to amend the Securities Exchange Act of 1934 to provide for duties of certain investment advisors, asset managers, and pension funds with respect to voting on shareholder proposals, and for other purposes.
  • H.R. ____, to amend the Securities Exchange Act of 1934 to prohibit robovoting with respect to votes related to proxy or consent solicitation materials, and for other purposes.
  • H.R. ____, to amend the Investment Advisers Act of 1940 with respect to proxy voting of passively managed funds, and for other purposes.
  • H.R. ____, the "Mandatory Materiality Requirement Act of 2022," to amend the Securities Act of 1933 and the Securities Exchange Act of 1934 to require that information required to be disclosed to the Securities and Exchange Commission by issuers be material to investors of those issuers, and for other purposes.
  • H.R. ____, to amend the Securities Exchange Act of 1934 to require the Securities and Exchange Commission to disclose and report on non-material disclosure mandates, and for other purposes.

Witness List

  • Christopher Netram, Managing VP, Tax and Domestic Economic Policy, National Association of Manufacturers
  • Dr. Joshua White, Assistant Professor of Finance and the Brownlee O. Currey Jr. Dean's Faculty Fellow at Vanderbilt University’s Owen Graduate School of Management
  • Tim Doyle, Senior Policy Advisor, Bipartisan Policy Center
  • Jonathan Berry, Managing Partner, Boyden Gray PLLC
  • Ms. Nell Minow, Vice Chair, ValueEdge Advisors



Hearing Videos


    Webcast of the Hearing



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