Proxy Voting

'We think the dissenting commissioners have it right that the proxy rule doesn’t seem to require what the order implies'

"We are concerned that the Order may be misconstrued regarding an adviser’s fiduciary duties with respect to voting proxies on behalf of its clients, as ...

The adviser repeatedly violated the Advisers Act by casting proxy votes at more than 200 shareholder meetings without taking any steps to determine whether the ...

Brookfield, GGP 'did not provide the stockholders the information they needed...'

This final rule rescinds certain guidance that the Commission issued to investment advisers about their proxy voting obligations

"[W]e are undertaking this unnecessary PVAB Rehab—gutting the rules so that little of what we adopted less than two years ago remains .... Changing course ...

The main explanation for eliminating the 2020 guidance was because commenters asked the SEC to do so

"Institutional investors—and their investment advisers—often find it helpful to turn to specialized businesses called proxy advisory firms to provide them with voting recommendations concerning important ...

"In addition to eliminating these provisions, the Commission is rescinding certain supplemental guidance for investment advisers that was issued in connection with the 2020 amendments ...

"The majority of shareholders now vote through the grant of proxy in advance of the meeting, electronically. In other words, they fill out a ballot, ...