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Financial Advisory  + Wealth Management  | 
SEC Approves Rules to Enhance Proxy Voting Disclosure by Registered Investment Funds

SEC Approves Rules to Enhance Proxy Voting Disclosure by Registered Investment Funds

The Securities and Exchange Commission adopted amendments to Form N-PX, which will require enhanced information on proxy votes from registered funds, including exchange-traded funds and mutual funds. 

The Commission also adopted a new rule requiring institutional investment managers to disclose how they voted on executive compensation, or so-called “say-on-pay” matters, as mandated under the Dodd-Frank Act of 2010. 

“I am pleased to support these amendments because they will allow investors to better understand and analyze how their funds and managers are voting on shares held on their behalf,” said SEC Chair Gary Gensler. 

The agency originally adopted a requirement in 2003 for registered funds to use Form N-PX annually to disclose certain details on how they voted for companies’ shares.  

The new rules and form amendments will be effective for votes occurring on or after July 1, 2023, with the first filings subject to the amendments due in 2024.

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About Joe Palmisano

Joe Palmisano is Editorial Director for Connect Money, where he brings nearly three decades experience of market insights as a financial journalist, analyst and senior portfolio manager for leading financial publications, advisory firms, and hedge funds. In his role as Editorial Director, Joe is responsible for the selection of content and creation of daily business news covering the financial markets, including Alternative Assets, Direct Investment and Financial Advisory services. Before joining Connect Money, Joe was a financial journalist for the Wall Street Journal, regularly publishing feature stories and trend pieces on the foreign exchange, global fixed income and equity markets. Joe parlayed his experience as a financial journalist into roles as a Senior Research Analyst and Portfolio Manager, writing daily and weekly market analysis and managing a FX and US equity portfolio. Joe was also a contributing writer for industry magazines and publications, including SFO Magazine and the CMT Association. Joe earned a B.S.B.A. in Finance from The American University. He holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.

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