Regulatory Alerts2022-07-19 | 2022-15311Added · Updated
Proxy Voting Advice
The Securities and Exchange Commission adopted final amendments to rescind specific conditions in Rule 14a-2(b)(9) that required proxy voting advice businesses to provide registrants with advance review opportunities and to offer clients a mechanism for receiving registrant statements. The Commission also deleted Note (e) to Rule 14a-9, which previously provided examples of misleading omissions, and rescinded supplemental guidance regarding investment advisers' proxy voting obligations. These changes aim to reduce compliance burdens and preserve the timeliness and independence of proxy voting advice while maintaining conflicts of interest disclosure requirements and general anti-fraud liability under Rule 14a-9.
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