To amend the Securities Exchange Act of 1934 to require the registration of proxy advisory firms, and for other purposes.
Analysis under review: This bill has generated analysis that may be too generic or incomplete. Clause-level evidence remains available below.
Summary
What This Bill Does
This bill, To amend the Securities Exchange Act of 1934 to require the registration of proxy advisory firms, and for other purposes., changes federal law or congressional policy affecting financial institutions, investors, and borrowers. The main policy domain is Finance, Criminal Justice, Environment.
Who Benefits and How
financial institutions, investors, and borrowers may benefit from new authority, funding, eligibility, regulatory clarity, or reduced risk created by the bill.
Who Bears the Burden and How
federal implementing agencies, financial institutions, investors, and borrowers may take on implementation duties, reporting obligations, compliance costs, or oversight responsibilities.
Key Provisions
- Section H307907725C914275B67830C82D238762: 1. Short title This Act may be cited as the Putting Investors First Act of 2023.
- Section H439A919B54AB41CC85E4F7724B6E3EB2: 2. Definitions In this Act: The term Commission means the Securities and Exchange Commission. The term proxy advisory firm has the meaning given the term in...
- Section H4F82C6D942EE4A8B88A1F9C620532F7A: 3. Registration of proxy advisory firms The Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.) is amended by inserting after section 15G the following new...
- Section HD1E36A95861548CBBF71B6C70432E1CA: 15H. Registration of proxy advisory firms It shall be unlawful for a proxy advisory firm to make use of the mails or any means or instrumentality of interstate...
- Section H87CBD3D7A85F4E5E97D2C471993E3DF9: 4. Duties of investment advisors, asset managers, and pension funds Not later than 1 year after the date of the enactment of this Act and annually thereafter,...
Evidence Chain:
This summary is generated from the full bill text using AI analysis. Expand "Detailed Analysis" below for identified beneficiaries/burden bearers with clause-level evidence links.
At a Glance
What This Bill Does
This bill, To amend the Securities Exchange Act of 1934 to require the registration of proxy advisory firms, and for other purposes., changes federal law or congressional policy affecting financial institutions, investors, and borrowers.
Key Policy Areas
Finance, Criminal Justice, Environment
Primary Purpose
This bill, To amend the Securities Exchange Act of 1934 to require the registration of proxy advisory firms, and for other purposes., changes federal law or congressional policy affecting financial institutions, investors, and borrowers.
Policy Domains
Whole bill
Identified Gains
- financial institutions, investors, and borrowers
Identified Costs
- federal implementing agencies
- financial institutions, investors, and borrowers
Sponsors
Legislative Progress
IntroducedMr. Hagerty introduced the following bill; which was read twice …
Impact analysis is available but no clear stakeholder effects identified. View clause-level analysis →
Bill Structure & Actor Mappings
Who is "The Secretary" in each section?
- "the_commission"
- → The commission identified in the operative section
We use a combination of our own taxonomy and classification in addition to large language models to assess meaning and potential beneficiaries. High confidence means strong textual evidence. Always verify with the original bill text.
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