"Be Careful What You Wish For: Four Potential Consequences of “Pass-Through” Voting for Companies” from Teneo summarizes the trend toward asset managers’ enabling end investors to vote their own shares, thus reducing their concentrated influence on proxy proposal outcomes, and the potential implications and suggested responsive action items for companies associated with greater shareholder democratization.
We previously reported on moves or plans announced by BlackRock, Vanguard, and State Street to implement to some degree or expand pass-through voting opportunities to their investor clients.See these articles: “Republicans propose recommendations to curb ‘big three' asset managers' influence” (Pensions & Investments) and “BlackRock, Vanguard Blasted by GOP Senators for ESG Proxy Voting” (Bloomberg Law) and the referenced report: “The New Emperors: Responding to the Growing Influence of the Big Three,” and additional resources on our Institutional Investors and Individual (Retail) Investors pages. This post first appeared in the weekly Society Alert!