About a-team Marketing Services
The knowledge platform for the financial technology industry
The knowledge platform for the financial technology industry

A-Team Insight Blogs

US SEC Asking for Feedback on Proxy Voting Proposals Including Data Tagging

Subscribe to our newsletter

The US Securities and Exchange Commission has just opened a 90 public comment period for consideration of its proposals to modernise the proxy voting system in the country by increasing electronic messaging and XBRL tagging.

Last year, SEC chairman Mary Schapiro launched a comprehensive review of the US proxy system in order to determine a more transparent, accurate and efficient method of registering shareholder votes during corporate actions events. “To result in effective governance, the transmission of this communication between investors and public companies must be timely, accurate, unbiased and fair,” said Schapiro this week.

To this end, the concept release requests comments from the public and the industry about the current state of play with regards to: the accuracy, transparency and efficiency of the voting process; communications and shareholder participation; and the relationship between voting power and economic interest.

Particular areas of concern for the regulator include the over-voting and under-voting of shares, methods of vote confirmation, issuer communication methods, proxy voting by institutional securities lenders and the role of proxy advisory firms. The SEC has also pitched the idea of data tagging proxy related data in order to facilitate the communication of this information to end investors in as efficient a manner as possible.

The introduction of new data tagging requirements would evidently have a significant impact on those acting as third party administrators within the corporate actions sphere.

The full list of items under consideration is available to view here.

Subscribe to our newsletter

Related content

WEBINAR

Recorded Webinar: Unlocking value: Harnessing modern data platforms for data integration, advanced investment analytics, visualisation and reporting

Modern data platforms are bringing efficiencies, scalability and powerful new capabilities to institutions and their data pipelines. They are enabling the use of new automation and analytical technologies that are also helping firms to derive more value from their data and reduce costs. Use cases of specific importance to the finance sector, such as data...

BLOG

Providers of SFDR Reporting Solutions

Europe’s ESG regulatory space is dominated by the Sustainable Finance Disclosure Regulation, which requires listed companies in the bloc to declare the sustainability credentials of the funds they manufacture and the assets in which invest. Its intention is to give investors and advisers a clearer understanding of how sustainable investments are. Compliance requires the reporting...

EVENT

Data Management Summit New York City

Now in its 15th year the Data Management Summit NYC brings together the North American data management community to explore how data strategy is evolving to drive business outcomes and speed to market in changing times.

GUIDE

The DORA Implementation Playbook: A Practitioner’s Guide to Demonstrating Resilience Beyond the Deadline

The Digital Operational Resilience Act (DORA) has fundamentally reshaped the European Union’s financial regulatory landscape, with its full application beginning on January 17, 2025. This regulation goes beyond traditional risk management, explicitly acknowledging that digital incidents can threaten the stability of the entire financial system. As the deadline has passed, the focus is now shifting...