Courtesy of an analysis conducted by Proxy Analytics, Vanguard’s newly released Q2 2025 Quarterly Engagement Report reflects a 44% reduction in the number of engagements overall compared to Q2 2024, and a 59% reduction of US engagements, reportedly evidencing the chilling effect of SEC staff’s February 2025 Schedule 13G guidance on shareholder engagement, as Proxy Analytics and others predicted. The following table shows the change in engagements year-over-year:
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This post first appeared in the weekly Society Alert!