SEC Issues FAQs on Proxy Voting

Last week the Securities and Exchange Commission’s (“SEC”) Division of Investment Management issued new guidance on proxy voting in the form of a Legal Bulletin (the “Bulletin”) containing, thirteen (13) frequently asked questions.

The guidance reiterates the importance of an adviser’s fiduciary duty to its clients as it relates to how a proxy firm votes client shares.

Highlights from the Bulletin for investment advisers are:

Please review the entire Bulletin to learn more about an investment adviser’s responsibilities in voting client proxies and retaining third-party proxy firms.

For further information on this and other related subjects, please contact us at (619) 278-0020 to schedule a consultation.

GENERAL DISCLAIMER: Information contained within this blog does not create a business-client relationship, and none of the content of this blog can be deemed to be consultive business advice.


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