SEC Issues Final Rule on Proxy Voting Advice

The SEC has issued a final rule, Proxy Voting Advice. The objectives of the final rule are to “avoid burdens on proxy voting advice businesses that may impair the timeliness and independence of their advice” and “address misperceptions about liability standards applicable to proxy voting advice while also preserving investors’ confidence in the integrity of such advice.”

For more information, see the following on the SEC’s Web site:

• Press release.
• Fact sheet.
• Public statements by SEC Chair Gary Gensler and Commissioners Allison H. Lee, Caroline A. Crenshaw, Hester M. Peirce, and Mark T. Uyeda.