Empowering Shareholders Act of 2026

Summary

The Empowering Shareholders Act of 2026 amends the Investment Advisers Act to set rules for how advisers of passively managed funds must vote proxies. It obliges advisers to vote according to the instructions of the fund’s beneficial owners, the issuer’s recommendations, or to abstain, and gives them liability protection when they follow these rules. The bill also mandates disclosure of voting policies and electronic delivery of voting information.

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