SEC’s Allison Herren Lee on voting and disclosure

Posted on March 26, 2021 by Editor

The issue of investment stewardship is an increasingly visible one, thanks to the expansion of passive investment and expanded investor focus on ESG. It’s a topic we’re sure to explore further in the future, particularly with a view to the way that transparency can contribute to the functioning of markets in this field. Readers may be interested in a recent speech titled ‘Every Vote Counts: The Importance of Fund Voting and Disclosure’ given by Allison Herren Lee, Acting Chair of the US Securities and Exchange Commission on 17 March.

“Ultimately, corporate accountability is only possible when the funds that manage […] investors’ savings diligently exercise their authority to vote, clearly disclose their votes to investors, and operate in a system that efficiently provides accurate information about vote execution,” said Lee. “As investor preferences continue to transform, proxy voting will become an increasingly important component of that transformation. We must ensure that current incentives and rules for voting and voting disclosure are really serving the needs of investors today.”

Read the speech here.

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