Enhanced Reporting of Proxy Votes by Registered Management Investment Companies; Reporting of Executive Compensation Votes by Institutional Investment Managers

The Securities and Exchange Commission ("Commission") is adopting amendments to Form N-PX under the Investment Company Act of 1940 ("Investment Company Act") to enhance the information mutual funds, exchange-traded funds ("ETFs"), and certain other funds currently report about their proxy votes and to make that information easier to analyze. The Commission also is adopting rule and form amendments under the Securities Exchange Act of 1934 ("Exchange Act") that would require an institutional investment manager subject to the Exchange Act to report on Form N-PX how it voted proxies relating to executive compensation matters, as required by the Exchange Act. The reporting requirements for institutional investment managers complete implementation of those requirements added by the Dodd-Frank Wall Street Reform and Consumer Protection Act ("Dodd-Frank Act").