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.

TL;DR (AI)

• The bill mandates that institutional investment managers file annual reports detailing their proxy voting practices and the extent to which they align with proxy advisory firm recommendations.
• Larger investment managers, those with over $100 billion in assets under management, must conduct and disclose an economic analysis before voting on shareholder proposals.
• This legislation amends the Securities Exchange Act of 1934 to establish these new disclosure requirements for institutional investment managers.