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: Sponsored by FundGuard: NAV Resilience Under DORA, A Year of Lessons Learned

The EU’s Digital Operational Resilience Act (DORA) came into force a year ago, and is reshaping how asset managers, asset owners and fund service providers think about operational risk. While DORA’s focus is squarely on ICT resilience and third-party dependencies, its implications extend deep into core operational processes that are critical to market integrity, investor...

BLOG

New White Paper: AI and the Operational Reality of e-Comms Surveillance

The rapid expansion of electronic communications channels has fundamentally reshaped how financial firms interact with clients, counterparties and markets. Email and Bloomberg messaging have been joined by collaboration tools, instant messaging platforms, voice calls and video meetings, all of which now sit squarely within the scope of regulatory scrutiny. For compliance teams, this proliferation has...

EVENT

Data Management Summit London

Now in its 16th year, the Data Management Summit (DMS) in London brings together the European capital markets enterprise data management community, to explore how data strategy is evolving to drive business outcomes and speed to market in changing times.

GUIDE

Evaluated Pricing

Valuations and pricing teams are facing a much higher degree of scrutiny from both the regulatory community and the investor community in the glare of the post-crisis data transparency spotlight. Fair value price transparency requirements and the gradual move towards a more harmonised accounting standards environment is set within the context of the whole debate...