September 30, 2021

Reuters – U.S. SEC proposes rules urging hedge funds, endowments to disclose votes

The top U.S. securities regulator on Wednesday proposed requiring large hedge funds and endowments to disclose how they vote on executive pay, bringing this clutch of influential investors in line with other top funds that have made their pay votes public for a decade.

The proposal, subject to a 60-day period of public consultation before further action can take place, would also mandate investors provide more details about how share lending affects proxy voting as well as prescribe how funds and managers organize their reports by requiring the use of a structured data language to ease analysis.

Among S&P 500 company CEOs average total pay rose 52% to $12.18 million in 2020 from $8 million a decade earlier, according to compensation consultant Farient Advisors.

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