Protecting Americans’ Savings Act

119 HR 8383 IH: Protecting Americans’ Savings Act U.S. House of Representatives 2026-04-20 text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. I 119th CONGRESS 2d Session H. R. 8383 IN THE HOUSE OF REPRESENTATIVES April 20, 2026 Mr. Nunn of Iowa introduced the following bill; which was referred to the Committee on Financial Services A BILL To amend the Securities Exchange Act of 1934 to establish certain requirements related to proxy voting, and for other purposes. 1. Short title This Act may be cited as the Protecting Americans’ Savings Act . 2. Requirements related to proxy voting Section 14 of the Securities Exchange Act of 1934 ( 15 U.S.C. 78n ) is amended by adding at the end the following: (l) Prohibition on robovoting (1) In general The Commission shall issue final rules prohibiting the use of robovoting with respect to votes related to proxy or consent solicitation materials. (2) Robovoting defined In this subsection, the term robovoting means the practice of automatically voting in a manner consistent with the recommendations of a proxy advisory firm or on a proxy advisory firm’s electronic voting platform with the proxy advisory firm’s recommendations, in either case, without independent review and analysis. (m) Prohibition on outsourcing voting decisions by institutional investors With respect to votes related to proxy or consent solicitation materials, an institutional investor may not outsource voting decisions to any person other than an investment adviser or a broker or dealer that is registered with the Commission, or is exempt from such registration, and has a fiduciary or best interest duty to the institutional investor. (n) No requirement To vote No person may be required to cast votes related to proxy or consent solicitation materials, unless obligated by their fiduciary duty or Rule 206(4)–6 (17 CFR 275.206(4)–6). .