; and (iii) include each economic analysis required under clause (ii) in the annual report required under subparagraph (A). (C) Certification requirement Each report required under this paragraph shall be certified by the chief executive officer and chief financial officer of the institutional investment manager. (D) Best economic interest defined In this paragraph, 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 shareholders are invested. . (b) Proxy advisory firm defined 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. .