Investment adviser duty to disclose conflicts when voting proxies

Investment advisers affiliated with multiservice financial institutions need to review the content and implementation of their proxy voting policies and procedures in light of the recent administrative proceeding captioned In the Matter of Deutsche Asset Management (the Proceeding). Advisers will al...

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Bibliographic Details
Published in:The Investment Lawyer 2003-11, Vol.10 (11), p.1
Main Author: Manzoni, Jr., Charles R
Format: Article
Language:English
Subjects:
Asset management
Banking
Conflicts of interest
Disclosure
Financial institutions
Investment advisers
Investment advisors
Investment banking
Investments
Legislation
Proxies
Proxy
Regulation
Securities industry
Shareholder meetings
Shareholder voting
Stockholders
Working groups
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Summary:Investment advisers affiliated with multiservice financial institutions need to review the content and implementation of their proxy voting policies and procedures in light of the recent administrative proceeding captioned In the Matter of Deutsche Asset Management (the Proceeding). Advisers will also need to develop some faith that the unqualified language in the order instituting the proceedings (the Order) does not represent an alteration in the views of the Securities and Exchange Commission (the Commission) on methods of dealing with conflicts of interests in proxy voting situations. The Proceeding arose out of the proxy voting practices of Deutsche Asset Management, Inc. (DAM) in connection with the shareholder vote on the HewlettPackard/Compaq Computer merger.
ISSN:1075-4512