# Fiduciary Duties Regarding Proxy Voting and Shareholder Rights
> **Employee Benefits Security Administration** · Final rule. · Published 2020-12-16 · Effective 2021-01-15 · 85 FR 81658
## Document
- **Document number:** 2020-27465
- **Category:** retirement-erisa
- **Sub-agency:** Employee Benefits Security Administration
- **Federal Register citation:** 85 FR 81658
- **CFR reference:** 29 CFR 2509
- **Publication date:** 2020-12-16
- **Effective date:** 2021-01-15
## Abstract

The Department of Labor (Department) is amending the "Investment Duties" regulation to address the application of the prudence and exclusive purpose duties under the Employee Retirement Income Security Act of 1974 (ERISA) to the exercise of shareholder rights, including proxy voting, the use of written proxy voting policies and guidelines, and the selection and monitoring of proxy advisory firms. This document also removes Interpretive Bulletin 2016- 01 from the Code of Federal Regulations as it no longer represents the view of the Department regarding the proper interpretation of ERISA with respect to the exercise of shareholder rights by fiduciaries of ERISA-covered plans.

## Source
- [Federal Register document](https://www.federalregister.gov/documents/2020/12/16/2020-27465/fiduciary-duties-regarding-proxy-voting-and-shareholder-rights)
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