DOL’s Final ERISA Proxy Voting Rule Largely Changed to Principles-based Approach
By EsqSocial Corporation 22/12/20
The US Department of Labor (DOL) has released its final rule on the application of ERISA fiduciary duties—specifically the duties of prudence and loyalty—to proxy voting and the exercise of shareholder rights. It takes effect on January 15, 2021, with delayed applicability dates for certain provisions. It adds an additional subsection to the DOL’s final “financial factors” regulation that was published in the Federal Register in November. Please see full Publication below for more information....
By: Morgan Lewis