What Is SEC Form N-PX?

The SEC Form N-PX is to be completed by mutual funds and other registered management investment companies to disclose procedures for proxy votes. This details to investors how funds vote proxies related to different securities they hold. The form is filed each year with the 澳洲幸运5官方开奖结果体彩网:Securities and Exchange Commission (SEC) for the trailing-12-month period ending on June 30.

Understanding SEC Form N-PX

The SEC Form N-PX filing requirements are covered under Section 30 of the 澳洲幸运5官方开奖结果体彩网:Investment Company Act of 1940, and Sections 13 and 15(d) of the 澳洲幸运5官方开奖结果体彩网:Securities Exchange Act of 1934, which require investment companies and trusts to file semiannual and annual reports with the SEC and shareholders.

Individuals should always have access to a registered investment company's proxy voting record, by either accessing or requesting the information directly from the company or through the SEC's website. Many companies make the information available online under "Investor Relations," or by providing a toll-free number for people wishing to request a copy by mail.

By federal la🧸w, companies are required to provide their proxy voting records, free of charge, within three days of receiving a request. Investors can find out how a mutual fund provides its proxy voting record through the annual or semi-annual report to shareholder and stℱatement of additional information. 

Funds are required by the SEC to file the form N-PX no later than August 31 of each year. Since this information is available to the public, investors can find proxy voting information for a mutual fund on the SEC's proprietary 澳洲幸运5官方开奖结果体彩网:EDGAR database. Here you can also find a mutual fund's ඣsemi and annual🧔 report to shareholders, registration statement, and other SEC filings. 

Information Disclosed in SEC Form N-PX

A mutual fund must detail specific information on the SEC Form N-PX for matters related to securities held in the fund. 🍌That only occurs during shareholder meeting🅘s and when the fund is entitled to a vote.

Some of the information found in the Form N-PX includes the name of the issuer of the portfolio security, the exchange ticker symbol, the Committee on Uniform Security Iden꧙tification Procedures (CUSIP) number, shareholdeಞr meeting date, and a brief overview of the issues up for a vote, 𓄧among other material information.

Even more important, funds that invest in voting securities are required to disclose the outcome of the vote. The fund can vote down the proposal, abstain, withhold for the election of directors, as well 🍷as choose for or against management. 

Evolution of SEC Form N-PX

On November 2, 2022, the SEC adopted amendments to Form N-PX aimed at improving the transparency and usability of proxy voting records. These amendments are designed🎶 to make it easier for investors to track and analyze how their funds vote on various matters

SEC Chair🅘 Gary Gensler expressed support for these changes, highlighting that the amendments will provide investors with more detailed and consistent information about proxy votes. The new regulations will require funds to categorize voting matters and align their reports with the issuer’s proxy card format, making it easier for investors to identify and compare votes of interest. The updated Form N-PX is now structured in a machine-readable format making it easier to analyze.

The amendments to Form N-PX applied to proxy votes occurring from July 1, 2023, with the initial filings under the new rules due in 2024.

The Bottom Line

SEC Form N-PX requires registered investment funds including mutual funds and ETFs to annually ♊disclose their proxy voting records. The form tries to enhance transparency by standardizing reporting formats and requiring more detailed information on proxy votes and securities lending activities.