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DOL Final Rule Embraces Principles-Based Approach to ESG Factors in Investments and Proxy Voting – Initial Reactions

On November 22, 2022, the U.S. Department of Labor (DOL) released its much-anticipated final rule (Final Rule) addressing investment selection and environmental, social and governance (ESG) considerations for ERISA-covered retirement plans (including 401(k) plans) and the exercise of shareholder rights, including voting proxies.

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SEC Adopts Streamlined Shareholder Reports for Mutual Funds and ETFs; Fee Information in Fund Advertisements

Time to Read: 1 minutes Practices: Asset Management

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On October 26, 2022, the SEC unanimously adopted a release (the “Release”) containing rule and form amendments to require open-end funds to transmit “concise and visually engaging annual and semi-annual reports to shareholders” that highlight key information deemed “particularly important for retail investors to assess and monitor their fund investments.” Other information, including financial statements, will no longer appear in funds’ shareholder reports but, instead, must be available online, delivered free of charge upon request and filed on a semi-annual basis on Form N-CSR. 

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