Vote passive: the future of corporate democracy

The corporate-voting enfranchisement has not yet been rolled out in NZ. (Image: Getty)

Wed, 22 Jun 2022

Passive investing has always been a misnomer.Behind the facade of non-activity lurks a complex machine of many moving parts and obscure sources of power.But some of the most influential cogs in the passive machine are about to experience a round of regulatory tinkering after a move by the US Securities and Exchange Commission (SEC) last week.Packaged as a ‘request for comment’, the SEC probe is a shot across the bow of the financial index-manufacturing industry that has grown at an incredible pace in line with the passive investment...

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