SEC Proposes Amendments to Rules Related to Proxy Voting Advice

The SEC has issued a proposed rule, Amendments to Exemptions From the Proxy Rules for Proxy Voting Advice.

The proposal would “enhance the quality of the disclosure about material conflicts of interest that proxy voting advice businesses provide their clients [and] provide an opportunity for a period of review and feedback through which companies and other soliciting parties would be able to identify errors in the proxy voting advice.”

Comments on the proposed rule are due 60 days after the date of its publication in the Federal Register. For more information, see the following on the SEC’s Web site:

• Press release.
• Proposed rule.
• Public statements by SEC Chairman Jay Clayton and Commissioners Allison Herren Lee, Elad L. Roisman, Hester M. Peirce, and Robert J. Jackson Jr.