Regulatory Alerts2020-09-03 | 2020-16338Added · Updated
Supplement to Commission Guidance Regarding Proxy Voting Responsibilities of Investment Advisers
The Securities and Exchange Commission issued supplementary guidance to clarify investment advisers' proxy voting responsibilities under the Advisers Act in light of recent amendments to proxy solicitation rules. The document advises advisers using automated voting or pre-populated systems to ensure their policies and procedures allow for the consideration of material issuer information filed before voting deadlines. It further emphasizes that advisers must provide full and fair disclosure to clients regarding the use of automated voting to secure informed consent and satisfy fiduciary duties.
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