Executive Order 14366: Protecting American Investors From Foreign-Owned and Politically-Motivated Proxy Advisors

What the order contains

Section headings exactly as they appear in the official text.

• Sec. 1. Purpose
• Sec. 2. Protecting Investors from Politicized Advice
• Sec. 3. Unfair, Deceptive, or Anticompetitive Practices
• Sec. 4. Protecting Pensions and Retirement Plans
• Sec. 5. General Provisions

Section 1, quoted from the order

Verbatim text from the signed document. These are the words of the document, not SaveYourState’s.

Unbeknownst to many Americans, two foreign-owned proxy advisors, Institutional Shareholder Services Inc. and Glass, Lewis & Co., LLC, play a significant role in shaping the policies and priorities of America's largest companies through the shareholder voting process. These firms, which control more than 90 percent of the proxy advisor market, advise their clients about how to vote the enormous numbers of shares their clients hold and manage on behalf of millions of Americans in mutual funds and exchange traded funds. Their clients' holdings often constitute a significant ownership stake in the United States' largest publicly traded companies, and their clients often follow the proxy advisors' advice. […]