Both Commissioner Roisman and IM Division Director Blass spoke at this week’s Investment Company Institute Mutual Funds and Investment Management Conference about fund and investment adviser use of proxy advisory firms. Commissioner Roisman raised a number of questions and sought input from the industry, particularly from smaller asset managers, on the use of proxy advisory firms. Director Blass indicated that updates to the current guidance to clarify how investment advisers should fulfill their fiduciary duties in this area are anticipated around the end of proxy season this year, which is only a couple of months away. Additional information and context can be found here.
