Protecting Americans’ Savings Act

Summary

The Protecting Americans’ Savings Act adds new rules to the Securities Exchange Act that stop investors from automatically voting in line with proxy‑advisor recommendations without independent review. It also restricts institutional investors from outsourcing voting decisions to anyone except a registered adviser or broker with a fiduciary duty, and says no one can be forced to vote unless required by law. The SEC must issue regulations to enforce these provisions.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

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