Association Wants the SEC to Reform Proxy System and Reduce Fund Costs

The Investment Company Institute is calling on the SEC to “save millions of dollars for registered fund shareholders” by making significant reforms to the fund proxy voting process. Those reforms in its proposal advocate what it termed a “supermajority option,” under which funds could achieve majority votes for specified items through a combination of lowering the percentage needed for a quorum while raising the percentage required to approve certain items.
Full contents of this article are only available to paid subscribers.

Please note: we are on a new platform and you may need to reset your password to recover your account. Click here for more details.

New to ACA Insight?

Subscribe today and receive a time-limited $200 discount!

Subscribers receive: 46 electronic issues conveniently e-mailed to your desktops each Friday; access to archives of past stories; and breaking news e-mails.

Subscribe today to the weekly news source for investment management and legal compliance professionals.