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UK Financial Regulator Proposes Reporting Template to Enhance Transparency of Shareholder Voting
September 12, 2023Amid ongoing scrutiny over proxy voting (particularly in relation to ESG-related resolutions), the UK’s financial regulator, the Financial Conduct Authority, has launched a consultation aimed at developing a vote-reporting template for asset managers. In a June 2023 consultation and discussion paper, the FCA’s Vote Reporting Group detailed its proposal for a “voluntary, standardized and comprehensive vote-reporting template” designed to facilitate communication and promote transparency from asset managers about their voting activity. The stated objectives of the framework include giving asset owners access to more consistent and comparable data for their own timely and accurate decision making, as well as increasing reporting efficiency for asset managers themselves.
