H.R. 3402 — 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.

H.R. 3402 — 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. | JustPolicyThe purpose of this legislation is to enhance transparency and accountability among institutional investment managers when they engage with proxy advisory firms. It aims to ensure that these managers disclose how they vote on shareholder proposals and how they consider the recommendations from proxy advisory firms in their voting decisions. The goal is to protect the economic interests of shareholders and improve the overall governance of companies.