SEC’s Corp Fin and IM Issue Proxy Voting Guidance
In conjunction with its Division of Corporation Finance (“Corp Fin”), the U.S. Securities and Exchange Commission’s (“SEC”) Division of Investment Management (“IM”) recently issued Staff Legal Bulletin No. 20, Proxy Voting: Proxy Voting Responsibilities of Investment Advisers and Availability of Exemptions from the Proxy Rules for Proxy Advisory Firms. In their respective roles, IM offers guidance for investment advisers’ responsibilities in voting client proxies and preserving proxy advisory firms, and Corp Fin provides guidance on the accessibility and obligations of two federal proxy rule exemptions that are often used by proxy advisory firms. The guidance reflects proxy advisory firms’ ability. Read More.
Topics: Advisory Firms, Division of Corporation Finance "Corp Fin", Division of Investment Management "IM", Exemptions, Investment Advisers, Proxy Voting, U.S. Securities and Exchange Commission "SEC"