On 21 June 2023, the FCA published a consultation and discussion paper from the Vote Reporting Group. The aim of the consultation is to build industry consensus on a voluntary vote reporting template for asset managers in the UK.
The consultation proposes a voluntary, standardised and comprehensive ‘vote reporting template’ for asset managers to communicate to asset owner clients on their voting activity. These proposals are intended to provide asset owners with more consistent, up-to-date and comparable data, allowing asset owners to make timely and accurate decisions while increasing reporting efficiency for asset managers.
The proposals in this consultation build upon the 2021 report by the Taskforce on Pension Scheme Voting Implementation, in particular on improved vote reporting and monitoring.
The Vote Reporting Group is an independent working group established by the FCA in November 2022. The FCA is an observer and provides the Secretariat for the group.
The consultation closes on 21 September 2023.