SEC Amends Proxy Voting Reporting Requirements

The SEC has issued a final rule, Enhanced Reporting of Proxy Votes by Registered Management Investment Companies; Reporting of Executive Compensation Votes by Institutional Investment Managers. The final rule amends Form N-PX “to enhance the information mutual funds, exchange-traded funds . . . , and certain other funds currently report about their proxy votes and to make that information easier to analyze.” In addition, in response to a mandate of the Dodd-Frank Wall Street Reform and Consumer Protection Act, “an institutional investment manager subject to the Exchange Act [is required] to report on Form N-PX how it voted proxies relating to executive compensation matters, as required by the Exchange Act.”

For more information, see the press release and fact sheet, as well as statements by SEC Chair Gary Gensler and Commissioner Jaime Lizárraga, on the SEC’s Web site.