Posted on Wednesday, September 29, 2021

On September 29, 2021, the Securities and Exchange Commission (SEC) announced a rule proposal, Enhanced Reporting of Proxy Votes by Registered Management Investment Companies; Reporting of Executive Compensation Votes by Institutional Investment Managers, for a 60-day public comment period. The proposal would amend Form N-PX to enhance the information reported and make it easier to analyze by requiring the data to be reported in structured data format using XML. The proposal states, “We believe use of a custom XML language would make it easier for reporting persons to prepare and submit the information required by Form NPX accurately, and would make the submitted information more useful.”

Form N-PX reports the name of the issuer, exchange ticker symbol and CUSIP number of the portfolio security; the shareholder meeting date; a short description of the matter voted on including whether it was proposed by the issuer or the security holder; whether and how the fund cast its vote on the matter as well as if it voted for or against management. The proposal would amend the scope of the voting decisions the funds must report, in addition to the format change as noted above.

Read the proposal.



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