Note: The following post originally appeared in Perkins Coie’s Public Chatter blog.

In the making for a long time, the SEC proposed rules yesterday that would change how mutual funds disclose their proxy voting – and would require institutional investors to disclose their say-on-pay voting records for the first time. Here’s the 174-page proposing release.

On April 9, 2021, the SEC’s Division of Examinations (the “Division”) published its first risk alert detailing deficient and effective practices among investment advisers and registered and private funds (“Firms”) offering ESG strategies. The SEC is not alone in its focus on ESG matters as the CFTC and its Climate Risk Unit (“CRU”) continue to assess the risks to U.S. financial stability posed by climate change.

Acting SEC Chair Allison Herren Lee continues to aggressively promote the SEC’s ESG agenda by launching a dedicated ESG webpage on the SEC’s website and speaking in support of ESG initiatives. The SEC’s Asset Management Advisory Committee (“AMAC”) is also moving forward with important ESG recommendations, including promotion of diversity and inclusion measures.