The DOL Finalizes Regulation Imposing New Obligations For Plan Sponsors And Asset Managers In Connection With Proxy Voting And Other Exercises Of Shareholder Rights By ERISA Plans - Employment and HR
To print this article, all you need is to be registered or login on Mondaq.com. On December 11, 2020, the U.S. Department of Labor (DOL) adopted a final rule amending the investment duties regulation under ERISA to address how plan fiduciaries should exercise shareholder rights, including proxy voting. The DOL indicated that it adopted this rule to address the use by plan fiduciaries of non-pecuniary factors in proxy voting decisions as well as what it has described as a "misconception" among plan fiduciaries that they must generally always vote proxies, even when doin...
Source: mondaq.com