SEC Proposal Seeks Transparency in How Money Managers Wield Vast Voting Power
The Securities and Exchange Commission is set to propose a rule that would require money managers to disclose more information on how they use their voting power.
When investors buy a mutual fund and exchange-traded fund from an asset manager, the money manager votes on shareholder proposals on behalf of the investors. Shareholder votes extend from issues from executive compensation to a company’s efforts to address climate change.
