Corporate Governance Reform and Transparency Act of 2016

[AI summary unavailable — showing source text] Corporate Governance Reform and Transparency Act of 2016 This bill amends the Securities Exchange Act of 1934 to require the registration of proxy advisory firms and make it unlawful for an unregistered proxy advisory firm to make use of the mails or any means or instrumentality of interstate commerce to provide proxy voting research, analysis, or recommendations to any client. "Proxy advisory firm" means any person registered under this bill who is engaged in the business of providing proxy voting research, analysis, or recommendations to clients, which conduct constitutes a solicitation, except to the extent that the person is exempted by Securities and Exchange Commission (SEC) rules and regulations from requirements that otherwise apply to persons engaged in a solicitation. The bill prescribes both registration and termination procedures. The SEC shall report annually on its Internet website about proxy advisory firm registration applicants, actions taken on the applications, and specified related matters.…