Fund directors and the new proxy disclosure rules

June 2010
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Fund directors and the new proxy disclosure rules

At a glance

June 2010 - On December 16, 2009, the U.S. Securities and Exchange Commission ('SEC') adopted amendments to the proxy disclosure and other reporting requirements aimed at improving the information disclosed by public companies and U.S. registered investment companies ('funds').

On December 16, 2009, the U.S. Securities and Exchange Commission ("SEC") adopted amendments to the proxy disclosure and other reporting requirements aimed at improving the information disclosed by public companies and U.S. registered investment companies ("funds").

The amendments require funds to disclose more detail about their governance activities in registration statements and proxy statements to shareholders. Since the proxy enhancements apply to public companies generally, they may also affect how funds develop proxy voting guidelines and vote ballots.