WASHINGTON/BOSTON, Sept 29 (Reuters) – The top U.S. securities regulator on Wednesday will propose 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 changes proposed by the Securities and Exchange Commission (SEC) will also include mandates for investors to provide more details about how share lending affects proxy voting and to make certain reports machine-readable, an SEC official told Reuters, speaking on condition of anonymity.
Together the changes from the Democratic-led agency are meant to bring more transparency to shareholder annual meetings, partly by implementing rules mandated by the Dodd-Frank financial reforms of 2010.