DOL Says It Won’t Enforce Final Rules on ESG and Proxy Voting
The department says it will not pursue enforcement actions against any plan fiduciary for failure to comply, and it plans to release further guidance on the issues.
Tag: proxy voting
Compliance
SEC Chair Gensler’s Confirmation Hearing Displays Parties’ Priorities
Democrats used Gary Gensler’s confirmation hearing to speak to issues of racial and wealth inequality exacerbated by the pandemic—which has killed more than 500,000 Americans and caused a surge in unemployment—while Republicans focused squarely on the potential of government overreach.
Publisher’s Note
Compliance
What a Year!
With so many bigger issues facing the country, much has happened that almost seems unnoticed.
DOL Issues Final Rule on Proxy Voting and Shareholder Rights
The final regulation includes delayed compliance dates to January 31, 2022, for certain recordkeeping and proxy voting requirements.
Compliance Consult
Whether—and How—to Vote Proxies
DOL proposal could complicate this plan-fiduciary job.
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Legislative and Judicial Actions
SEC approves shareholder proposal, fiduciaries of Mutual of Omaha plan settle, and more.
SEC Approves Controversial Shareholder Proposal
Negative reactions immediately piled in from concerned stakeholders and consumer advocates who say the proxy voting rule amendments will stifle shareholder engagement.
DOL Proposal Likely to Dampen Proxy Voting, Shareholder Engagement
As with its guidance related to environmental, social and governance investing, the Department of Labor’s stance on proxy voting and other forms of retirement plan investor shareholder rights has become a political football.
Proxy Voting Rule a Clear Sign of DOL’s Stance
Along with the rule about ESG investing in retirement plans, attorneys say, the DOL is making it clear it doesn't want plan fiduciaries spending time on things it says have no impact on plans.
DOL Issues Proposed Rule on Benefit Plan Proxy Voting
Provisions of the proposal articulate general duties requiring fiduciaries to vote any proxy where the fiduciary prudently determines that the matter being voted upon would have an economic impact on the plan.
SEC Proxy Voting Rules Are Quickly Criticized After Finalization
Advocacy organizations representing the fiduciary advisory industry are smarting after the Securities and Exchange Commission finalized restrictive new proxy voting rules.
2019 Was Big for the SEC. 2020 Will Be Huge.
In addition to the ambitious Regulation Best Interest package, the securities and market regulator is making significant changes to the proxy voting landscape and its rules for adviser advertising.
DOL and SEC Weigh New Proxy Voting Standards
Both the Department of Labor and the Securities and Exchange Commission are revisiting their proxy voting rules, creating an opportunity for greater regulatory alignment.
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SEC Issues Proxy Guidance
Noted are proxy voting duties and rules for advisers.
SEC Shakes Up the Proxy Voting Landscape
The Investment Adviser Association says the SEC’s proxy voting guidance will increase costs for advisers and also increase barriers to entry for proxy advisory firms.