WASHINGTON, D.C.- Tom Quaadman, executive vice president, Center for Capital Markets Competitiveness, U.S. Chamber of Commerce issued the following statement today after the Department of Labor (DOL) finalized its regulatory action on proxy voting for pension and retirement plans:
“The U.S. Chamber applauds the Department of Labor for finalizing their rule on proxy voting, which will require proxy voting decisions to be made based on the plan’s economic interest and promote the interests of retirees. The DOL’s rule along with recent actions from the SEC, will ultimately help ensure proxy voting follows a transparent and unconflicted process.”
