On July 22, 2020, the US Securities and Exchange Commission (SEC) published supplementary guidance in the form of a policy statement regarding the proxy voting responsibilities of investment advisers under Rule 206(4)-6 under the Investment Advisers Act of 1940. This Legal Update provides further detail. Continue reading here.
Today, the Securities and Exchange Commission adopted amendments to the proxy rules. The amendments amend the definition of “solicitation” in Exchange Act Rule 14a-1(l) in order to make clear, consistent with the SEC’s longstanding view, that it includes proxy voting advice, with certain exceptions. The amendments also revise Rules 14a-2(b)(1) and (b)(3), which provide exemptions…
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