SEC Keeps Proxy Voting Disclosure Rule in Place
Published Date: 7/23/2026
Notice
Summary
The SEC is asking to keep the current rules that require investment advisers to vote client shares in their clients’ best interest and share how they voted. This affects advisers who handle client voting and their clients who want transparency. No big changes or extra costs are coming, but advisers must keep following these clear rules to protect investors.
Analyzed Economic Effects
2 provisions identified: 1 benefits, 1 costs, 0 mixed.
Advisers must document and keep proxy rules
Investment advisers who vote client securities must adopt and document proxy voting policies and procedures, disclose how clients can obtain voting information, and keep related records for five years with the first two years in an easily accessible place. The SEC estimates 15,996 registered advisers face this rule, with each adviser spending on average 10 hours annually documenting procedures, about 377 clients per adviser requesting copies at 0.1 hours per request, and an aggregate annual burden of 763,009.2 hours.
You can see how your adviser voted
If your investment adviser has the authority to vote your securities, Rule 206(4)-6 requires the adviser to vote those proxies in your best interest and to tell you how you can get information about how they voted. Advisers must describe their proxy voting policies and, if you ask, give you a copy of those policies and procedures.
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