Passive mutual funds often leave investors in the dark on corporate-governance issues, threatening their ability to gain information on proxy voting decisions, a top U.S. regulatory official said.
“Investors do not get nearly enough usable information about how their money is being voted, and because of that, they cannot adequately hold those fund managers accountable for how they vote in those elections,” Securities and Exchange Commissioner Robert Jackson Jr. said Dec. 6 in a speech in New York. “It’s time for that to change.”
Jackson said the SEC should “more closely examine whether funds should have to disclose information about ...
Learn more about Bloomberg Law or Log In to keep reading:
Learn About Bloomberg Law
AI-powered legal analytics, workflow tools and premium legal & business news.
Already a subscriber?
Log in to keep reading or access research tools.