Investment Management, Proxy Voting, Asset Management

Texas Federal Court Allows an ERISA Fiduciary Challenge Against Alleged "ESG Investing" Without Any ESG Funds

Troutman Pepper Locke on 5/16/2025

On January 10, 2025, in Spence v. American Airlines, a federal district court in Texas ruled that American Airlines (the company) and the committee overseeing its 401(k) plans (the committee) breached their duty of loyalty...more

Holding Proxy Advisors' Feet to the Fire

Jones Day on 5/2/2025

Proxy advisors, and specifically ISS and Glass Lewis, are in the business of advising asset managers on whether to vote for or against the thousands of director nominees and proposals that are presented to shareholders each...more

Practical Takeaways from Spence v. American Airlines, Inc. for ERISA Plan Fiduciaries

Ropes & Gray LLP on 1/15/2025

On January 10, 2025, Judge Reed O’Connor of the Northern District of Texas issued a much-anticipated ruling in Spence v. American Airlines, Inc., which marks the first time that a federal judge has written an on-the-merits...more

Investment Adviser Compliance Index - March 2024

Morrison & Foerster LLP on 3/19/2024

The Investment Advisers Act of 1940 (the “Advisers Act”) is a relatively compact statute, and for many years the Securities and Exchange Commission (SEC) adopted relatively few regulations specifically targeting Advisers Act...more

ESG Investing and Proxy Voting: DOL's New Final Rule

K&L Gates LLP on 12/15/2022

Executive Summary: The Department of Labor released a final rule that addresses fiduciary duties when (1) considering ESG factors in selecting investments, and (2) considering whether and how to vote proxies, for plans...more

DOL Proposes New Rule on Proxy Voting Duties – Potential Implications for Investment Managers and Other ERISA Fiduciaries

K&L Gates LLP on 10/15/2020

On 4 September 2020, the U.S. Department of Labor (DOL) published a new proposed rule on “Fiduciary Duties Regarding Proxy Voting and Shareholder Rights” (the Proposal)....more