SEC Proposes Rule Requiring Disclosure of Proxy Voting Records Pertaining to Environmental and Climate Issues

On September 29, 2021, the Security and Exchange Commission proposed amendments to Form N-XP under the Investment Company Act of 1940. The proposed amendments would require disclosure of proxy voting records on a variety of issues, including issues pertaining to the environment and climate, such as greenhouse gas emissions. The requirements would apply to mutual funds, exchange-traded funds, and certain other funds. If adopted, the proposed requirements would complete implementation of section 951 of the Dodd-Frank Wall Street Reform and Consumer Protection Act.