Former Securities and Exchange Commission Chairman Jay Clayton famously more or less took his first year on that job off. It looks like his presumed successor, Gary Gensler—assuming there is a Senate left to confirm him after Mitch McConnell carpet bombs it—might get to do the same.
Securities and Exchange Commission acting chair Allison Herren Lee said disclosure rules have failed to help everyday investors especially as they focus more on environmental and social issues. She called the N-PX forms that companies file “unwieldy, difficult to understand, and difficult to compare across fund complexes.”
“It is high time to revisit this critical form and make it useful in creating needed transparency around the fundamental exercise of shareholder voting,” Lee said in a speech to the Investment Company Institute, the fund industry’s main trade group.