; and (B) amend or revise such rules and regulations in accordance with the purposes of this section, and issue such guidance as the Commission may prescribe as necessary or appropriate in the public interest or for the protection of investors. (p) Applicability This section, other than subsection (n), which shall apply on the date of enactment of this section, shall apply on the earlier of— (1) the date on which regulations are issued in final form under subsection (o)(1); or (2) 270 days after the date of enactment of this section. (q) Best economic interest defined In this section, the term best economic interest means decisions that seek to maximize investment returns over a time horizon consistent with the investment objectives and risk management profile of the fund in which the shareholders are invested. . (b) Conforming amendment Section 17(a)(1) of the Securities Exchange Act of 1934 ( 15 U.S.C. 78q(a)(1) ) is amended by inserting proxy advisory firm, after nationally recognized statistical rating organization, . (c) Proxy advisory firm definitions Section 3(a) of the Securities Exchange Act of 1934 ( 15 U.S.C. 78c(a) ) is amended by adding at the end the following: (82) Proxy advisory firm The term proxy advisory firm — (A) means any person who is primarily engaged in the business of providing proxy voting advice, research, analysis, ratings, or recommendations to clients, which conduct constitutes a solicitation within the meaning of section 14; and (B) does not include any person that is exempt under law or regulation from the requirements otherwise applicable to persons engaged in such a solicitation. (83) Person associated with a proxy advisory firm With respect to a proxy advisory firm— (A) a person is associated with the proxy advisory firm if the person is— (i) a partner, officer, or director of the proxy advisory firm (or any person occupying a similar status or performing similar functions)