WASHINGTON, D.C. – Today, Rep. Burgess Owens (UT-04) co-sponsored the Putting Investors First Act, legislation to disrupt the woke attack on American capitalism and restore key safeguards that protect investors and prioritize shareholder returns.
“A misguided political agenda should not dictate the investment of American retirees’ hard-earned paychecks,” said Rep. Owens. “The Putting Investors First Act will weed out the undue influence of proxy advisory firms, restore transparency at investment firms, and preserve the financial future of all Americans. I am proud to support this common sense legislation, and will work hard to ensure the economic success of families in my district and across the nation.”
This legislation, first proposed in the 117th Congress, reins in proxy advisors and limits their influence over American corporate governance. In the last two years, the Biden Administration has reversed critical proxy advisory firm reforms, resulting in reduced oversight, accountability, and transparency. The legislation focuses on restoring key safeguards that will protect investors and prioritize shareholder returns.
The full text of the legislation is available here.
###