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Committee amends proxy-vote transparency and investment standards; Senate File 191 advances
Summary
The Appropriations Committee advanced Senate File 191 with amendments clarifying reporting of proxy voting and setting standards for investment entities. Committee and Treasurer’s Office negotiated language on whether explanations must be provided in writing and clarified a 1-basis-point fee reference to assets under management.
The Appropriations Committee voted to pass Senate File 191 as amended after discussion with representatives of the State Treasurer’s Office and the Wyoming Retirement System.
Committee members and staff sought to codify information already posted online by the Treasurer’s Office, including proxy voting reports. Treasury counsel and office staff asked for clarification about a line in the amendment that required an “explanation of the vote taken,” noting existing publications provide vote outcomes but not narrative rationales in every case. The Treasurer’s office said most rationale would be along the lines…
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