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,,repres5tatives  ,july #ab1 #bjbc,mr4  
,/eil introduc$ ! foll[+ bill2 :i* 0    
ref]r$ to ! ,committee on ,f9ancial     
,s]vices  ,a ,,bill  ,to am5d !         
,securities ,ex*ange ,act ( #aicd to    
provide = liability = c]ta9 failures to 
disclose mat]ial in=mation 9 connection 
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#a4 ,liability = c]ta9 failures to      
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mat]ial mis/atem5ts ,section #ad ( !    
,securities ,ex*ange ,act ( #aicd 7#ae  
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end ! foll[+3  7l7 ,false or mislead+   
/atem5ts ,= purposes ( section #ah1 !   
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7su* z a proxy vot+ advice bus9ess's    
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mat]ial mis/atem5t reg>d+ proxy vot+    
advice t makes a recomm5dation to a     
security hold] z to ! security hold]'s  
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specific matt] = :i* security hold]     
approval is solicit$1 & t is furni%$ by 
a p]son t m>kets ! p]son's exp]tise z a 
provid] ( su* proxy vot+ advice         
sep>ately f o!r =ms ( inve/m5t advice1 &
 sells su* proxy vot+ advice = a fee1   
%all be consid]$ to be false or mislead+
 ) respect to a mat]ial fact4  4