The full House of Representatives voted late Thursday to prohibit the Financial Stability Oversight Council from designating asset management companies and other non-banks as “systemically important.”

Asset management companies have complained the designation would raise compliance costs and lead to Federal Reserve restrictions on the money they could invest and their profitability.

The Thursday action was part of a House Republican assault on the Dodd-Frank Act in which members also gave their assent to taking away the SEC’s authority to enforce a rule adopted last August requiring company to disclose the ratio of the compensation of its chief executive officer to the median compensation of all workers.

They also voted to strip the SEC of its ability to mandate companies disclose material climate-change risks to their financial health.

The House also voted to bar the SEC from giving shareholders who do not attend annual meetings the right to vote for a mix of management and opposition board candidates.

Currently, only shareholders physically at an annual meeting are allowed to vote for a mix of candidates from different slates. Shareholders voting by proxy must now choose one full slate or another.

The Republicans’ actions came as add-ons to a full financial-services agencies appropriations bill for the federal budget year beginning October 1 that was passed and sent to the Senate.

It is likely that some or all of the controversial provisions will not become law because Republican leaders don't want to pass a budget bill that could lead to a government shutdown a month before the presidential election and to an Obama veto they could not override.

A leading Republican figure is already on record as opposing a House-passed cut in SEC funding. Senate Appropriations Financial Services Subcommittee Chair John Boozman has objected to the House reduction of $50 million for the SEC for the next fiscal year from the $1.6 billion the agency is receiving this year.