SEC Proposes That Funds Beef Up Proxy Voting Disclosures

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By Tom Zanki (September 29, 2021, 6:29 PM EDT) — The U.S. Securities and Exchange Commission on Wednesday proposed increasing proxy disclosures so that investors will know how fund managers vote on executive pay referendums, along with other revisions advocates say will shine light on funds’ voting patterns.

The SEC voted 4-1 to invite public comment on a plan that would require institutions that run large investment funds on behalf of smaller investors to disclose how they voted on so-called say-on-pay proposals that appear annually on corporate ballots and allow shareholders to voice their opinion on executive compensation.

The agency’s latest proposal, which would satisfy a Dodd-Frank mandate, comes after a…

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