The SEC has announced that it will hold a public meeting on August 21 @ 10 am re:
- whether to publish guidance regarding the proxy voting responsibilities of investment advisers under, inter alia, Rule 206(4)-6 under the Investment Advisers Act of 1940; and
- whether to publish an interpretation and related guidance regarding the applicability of certain rules, which the Commission has promulgated under Section 14 of the Securities Exchange Act of 1934, to proxy voting advice.
We will track these developments carefully.
George Michael Gerstein advises financial institutions on the fiduciary and prohibited transaction provisions of ERISA. As co-chair of the fiduciary governance group, he assists clients with tracking, and understanding, the numerous fiduciary developments at the federal and state levels, including the rules and regulations of governmental plans. He also advises clients with respect to the fiduciary duty implications of ESG investing.