Empowering Shareholders Act of 2026
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Summary
The Empowering Shareholders Act of 2026 amends the Investment Advisers Act of 1940 to establish new requirements for how investment advisers vote proxies on behalf of passively managed funds. Advisers must either follow the voting instructions of beneficial owners, vote according to the issuer's board recommendations, abstain from voting, or mirror votes of other shareholders—with exceptions for routine matters. The bill provides a safe harbor protecting advisers from liability when voting in these prescribed manners and requires advisers to provide beneficial owners with forms to select a published voting policy and at least 5 business days to respond.
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How your representatives voted
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