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house Bill H.R. 4015

Should Proxy Advisory Firms Have to Register With the SEC & Disclose Conflicts of Interest to Clients?

Argument in favor

This bill would improve corporate governance by giving shareholders information about the conflicts of interest of the proxy advisory firm that’s providing them advice on corporate voting matters.

Chase's Opinion
···
12/14/2017
This should have been something that was done from the very beginning.
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Rebecca's Opinion
···
12/20/2017
Of course. although you in Congress have a huge conflict of interest to deal with on January 2, 2018 and his name is Donald Trump. Now that you have your tax scam almost in place And you have rewarded your wealthy donors, sold your soul to the devil as it were, You can stop protecting the president and hold him accountable for his actions. Where are his tax returns??
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Pegls1's Opinion
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12/14/2017
Does this really need to be argued? It's a professional ethics standard that can't be allowed to lapse.
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Argument opposed

This bill would interfere with shareholders’ ability to access impartial information and subject proxy advisory firms to a costly and untested regulatory regime that undermines their independence.

Marcia's Opinion
···
12/14/2017
These republican bills always sound so good until you get to the “fine print”. This bill is another assault on consumer protection. “In truth, the bill interferes with shareholders’ access to impartial analysis used to inform proxy voting decisions, and thus undermines shareholders’ ability to hold corporate management accountable.”
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Sheryl's Opinion
···
12/14/2017
This is another corrupt over-reach of governance by the Republican Congress with the goal of putting all aces in big corps hands. It pisses me off that these crooks think we’re so easily fooled by their chicanery.
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Samantha's Opinion
···
12/20/2017
At this point what difference does it make what the public opinion is? The GOP is going to go against what the American people want regardless. Until these crony capitalists are voted out, our country is screwed!
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bill Progress


  • Not enacted
    The President has not signed this bill
  • The senate has not voted
      senate Committees
      Committee on Banking, Housing, and Urban Affairs
  • The house Passed December 20th, 2017
    Roll Call Vote 237 Yea / 182 Nay
      house Committees
      Committee on Financial Services
    IntroducedOctober 11th, 2017

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Bill Activity

  • action
    Introduced in House
  • referral
    Referred to the House Committee on Financial Services.
  • action
    Committee Consideration and Mark-up Session Held.
  • calendar
    Ordered to be Reported by the Yeas and Nays: 40 - 20.
  • action
    Reported by the Committee on Financial Services. H. Rept. 115-451.
  • calendar
    Placed on the Union Calendar, Calendar No. 333.
  • action
    Rules Committee Resolution H. Res. 657 Reported to House. Previous question shall be considered as ordered without intervening motions except motion to recommit with or without instructions. Rule provides for one hour of general debate for each bill. The amendment in the nature of a substitute printed in H.R. 2396 shall be considered as adopted. The rule also makes in order the amendment printed in the report. An amendment in the nature of a substitute to H.R. 4015 consisting of Rules Committee Print 115-46, shall be considered as adopted.
  • action
    Rule H. Res. 657 passed House.
  • action
    Considered under the provisions of rule H. Res. 657.
  • action
    Previous question shall be considered as ordered without intervening motions except motion to recommit with or without instructions. Rule provides for one hour of general debate for each bill. The amendment in the nature of a substitute printed in H.R. 2396 shall be considered as adopted. The rule also makes in order the amendment printed in the report. An amendment in the nature of a substitute to H.R. 4015 consisting of Rules Committee Print 115-46, shall be considered as adopted.
  • action
    DEBATE - The House proceeded with one hour of debate on H.R. 4015.
  • action
    The previous question was ordered pursuant to the rule.
  • action
    Mr. Sarbanes moved to recommit with instructions to the Committee on Financial Services.
  • action
    DEBATE - The House proceeded with 10 minutes of debate on the motion to recommit with instructions. The instructions contained in the motion seek to require the bill to be reported back to the House with an amendment to exempt proxy voting recommendations on shareholder proposals related to political campaign contributions of a company.
  • action
    The previous question on the motion to recommit with instructions was ordered without objection.
  • action
    POSTPONED PROCEEDINGS - At the conclusion of debate on the motion to recommit with instructions, the Chair put the question on the motion and by voice vote, announced that the noes had prevailed. Mr. Sarbanes demanded the yeas and nays and the Chair postponed further proceedings on the motion to recommit with instructions until a time to be announced.
  • action
    On motion to recommit with instructions Failed by the Yeas and Nays: 189 - 231 (Roll no. 701).
  • vote
    On passage Passed by the Yeas and Nays: 238 - 182 (Roll no. 702).
  • action
    Motion to reconsider laid on the table Agreed to without objection.
  • referral
    Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
  • hearings
    Committee on Banking, Housing, and Urban Affairs. Hearings held.

bill Progress


  • Not enacted
    The President has not signed this bill
  • The senate has not voted
      senate Committees
      Committee on Banking, Housing, and Urban Affairs
  • The house Passed December 20th, 2017
    Roll Call Vote 237 Yea / 182 Nay
      house Committees
      Committee on Financial Services
    IntroducedOctober 11th, 2017

Log in or create an account to see how your Reps voted!
    This should have been something that was done from the very beginning.
    Like (31)
    Follow
    Share
    These republican bills always sound so good until you get to the “fine print”. This bill is another assault on consumer protection. “In truth, the bill interferes with shareholders’ access to impartial analysis used to inform proxy voting decisions, and thus undermines shareholders’ ability to hold corporate management accountable.”
    Like (82)
    Follow
    Share
    This is another corrupt over-reach of governance by the Republican Congress with the goal of putting all aces in big corps hands. It pisses me off that these crooks think we’re so easily fooled by their chicanery.
    Like (34)
    Follow
    Share
    Of course. although you in Congress have a huge conflict of interest to deal with on January 2, 2018 and his name is Donald Trump. Now that you have your tax scam almost in place And you have rewarded your wealthy donors, sold your soul to the devil as it were, You can stop protecting the president and hold him accountable for his actions. Where are his tax returns??
    Like (25)
    Follow
    Share
    At this point what difference does it make what the public opinion is? The GOP is going to go against what the American people want regardless. Until these crony capitalists are voted out, our country is screwed!
    Like (19)
    Follow
    Share
    Call crap ice cream and sell it to the Americans. Just like net neutrality. It should have been called net monopoly. This is not different. Republicans voters wake the hell up.
    Like (12)
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    Another way of republicans screwing the consumers..over reach by the government which NO one trusts!
    Like (9)
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    Conflicts of interest should always be disclosed, so clients can take their business elsewhere if they feel it is in their best interest. Full disclosure is good ethics. If this is what the bill does, then yes!
    Like (5)
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    A REPUBLICONN SUBMITTED THIIS BILL SO
    Like (5)
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    Does this really need to be argued? It's a professional ethics standard that can't be allowed to lapse.
    Like (5)
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    I urge all Congressional Representatives to support and Vote to pass this bill. WHY??? Passage would not only increase but improve the greatly needed corporate governance, by giving shareholders information about the conflicts of interest of the proxy advisory, firm that’s providing them advice on corporate voting matters. This bill would require proxy advisory firms to register with the Securities and Exchange Commission (SEC) and subject them to certain rules and reporting requirements.
    Like (5)
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    Conflicts of interest should always be exposed… Truth and neutrality should always be paramount
    Like (4)
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    all conflicts of interest should be observed... by the way... wheres trumps tax report?
    Like (3)
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    Conflicts of interest must be disclosed. Period. These documents exist to inform investors, who need and deserve need all relevant information, including whether presumably "neutral" parties have a stake in the investment.
    Like (3)
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    This puts costly regulations on agencies that help consumers, all to benefit the corporate donors of Congress. This is a bad bill.
    Like (3)
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    Conflicts of interest should always be disclosed.
    Like (2)
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    Undisclosed money is already one of the worst damages to our elections
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    Perhaps the U.S. government requires a primer on transparency?? Pushing things through in secret or making secrecy de rigeur is decidedly NOT a good thing.
    Like (2)
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    Without a Doubt!
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    Transparency is a good thing!!!! Sadly most Republicans have sold out lock stock and barrel.
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