proxy voting – Global Investment Law Watch

United States: SEC Adopts Expanded Proxy Voting Reporting by Registered Funds and New Reporting of Executive Compensation Votes by Form 13F Filers

Nov 07 2022

By: Lynn A. Schweinfurth, Kathy Kresch Ingber, and Crystal Liu

On November 2, by a vote of 3 to 2, the Securities and Exchange Commission adopted, largely as proposed, amendments to Form N-PX under the Investment Company Act of 1940 and new Rule 14Ad-1 under the Securities Exchange Act of 1934 (Amendments). The Amendments expand the proxy voting information that registered investment companies (Funds) report on Form N-PX, and require, for the first time, Form 13F filers (Managers) to report annually on Form N-PX how they voted proxies concerning certain shareholder advisory votes on executive compensation (“say-on-pay” votes).

United States: SEC Proposes Amendments to Shareholder Proposal Rule

Jul 22 2022

By: Jon-Luc Dupuy and Keri Riemer

On 13 July 2022, the Securities and Exchange Commission (“SEC”) proposed new amendments to Rule 14a-8 under the Securities Exchange Act of 1934 (the “Shareholder Proposal Rule”).

United States: SEC Rescinds Conditions to Proxy Voting Advice Exemptions

Jul 22 2022

By: Jon-Luc Dupuy and Keri Riemer

Update: On 28 July, 2022, the U.S. Chamber of Commerce, Business Roundtable and the Tennessee Chamber of Commerce & Industry sued the SEC, claiming that it did not follow proper procedures under the Administrative Procedure Act or provide adequate justification for its decision to repeal the exemption conditions described below.

On 13 July 2022, the Securities and Exchange Commission (“SEC”) repealed certain aspects of its 2020 reforms for proxy voting advice businesses (“PVABs”).

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