New SEC guidance hits the Big 2

The U.S. Securities and Exchange Commission made waves across the asset-management industry when it issued new guidance about how big fund firms report their holdings.
    
But the biggest impact may fall on the two largest firms, BlackRock and Vanguard, new research shows. You can read more in my column this week, linked below. 
    
With proxy season getting into gear I've also included links to some of our other shareholder engagement coverage. You'll see that investors at Apple and Deere shrugged off anti-DEI efforts,  but that PepsiCo made a change ahead of its meeting.

Please follow me on LinkedIn and/or Bluesky. Or get me via ross.kerber@thomsonreuters.com.

New restrictions on U.S. asset managers' stewardship will fall mainly on industry leaders BlackRock and Vanguard, a new analysis shows.

The two firms together manage nearly $22 trillion, reflecting the success of their low-cost passive funds. But their size has brought criticism across the political spectrum including, on Feb 11, new filings guidance for fund managers who pressure companies on environmental, social or governance (ESG) issues.
 
A review by Matt Moscardi, CEO of director analytics firm Free Float Analytics, found BlackRock and Vanguard made by far the largest number of filings that could be affected. You can read my column this week by clicking the button below.

An old photo but still relevant - U.S. President Donald Trump during a tour of an Apple manufacturing plant in Austin, Texas, Nov. 20, 2019. REUTERS/Tom Brenner

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