; and (3) adjust the 1 year holding period to 3 years. (c) Shareholder proposals issued by proxies Section 14 of the Securities Exchange Act of 1934 ( 15 U.S.C. 78n ) is amended by adding at the end the following: (j) Shareholder proposals by proxies not permitted An issuer may not include in its proxy materials a shareholder proposal submitted by a person in such person’s capacity as a proxy, representative, agent, or person otherwise acting on behalf of a shareholder. . 845. Prohibition on requiring a single ballot Section 14 of the Securities Exchange Act of 1934 ( 15 U.S.C. 78n ) is amended by adding at the end the following: (k) Prohibition on requiring a single ballot The Commission may not require that a solicitation of a proxy, consent, or authorization to vote a security of an issuer in an election of members of the board of directors of the issuer be made using a single ballot or card that lists both individuals nominated by (or on behalf of) the issuer and individuals nominated by (or on behalf of) other proponents and permits the person granting the proxy, consent, or authorization to select from among individuals in both groups. . 846. Requirement for municipal advisor for issuers of municipal securities Section 15B(d) of the Securities Exchange Act of 1934 ( 15 U.S.C. 78o–4(d) ) is amended by adding at the end the following: (3) An issuer of municipal securities shall not be required to retain a municipal advisor prior to issuing any such securities. . 847. Small issuer exemption from internal control evaluation Section 404(c) of the Sarbanes-Oxley Act of 2002 ( 15 U.S.C. 7262(c) ) is amended to read as follows: (c) Exemption for smaller issuers Subsection (b) shall not apply with respect to any audit report prepared for an issuer that has total market capitalization of less than $500,000,000, nor to any issuer that is a depository institution with assets of less than $1,000,000,000. . 848. Streamlining of applications for an exemption from the Investment Company Act of 1940 Section 6(c) of the