SEC Form N-PX

What Is SEC Form N-PX?

The SEC Form N-PX is to be completed by mutual funds and other registered management investment companies to uncover procedures for proxy votes. This subtleties to investors how funds vote intermediaries connected with different securities they hold. The form is filed every year with the Securities and Exchange Commission (SEC) for the trailing-12-month period ending on June 30.

Funds are required by the SEC to file the form N-PX no later than August 31 of every year. Since this information is accessible to the public, investors can find proxy voting information for a mutual fund on the SEC's proprietary EDGAR database. Here you can likewise find a mutual fund's semi and annual report to shareholders, registration statement, and other SEC filings.

Understanding SEC Form N-PX

The SEC Form N-PX filing requirements are covered under Section 30 of the Investment Company Act of 1940, and Sections 13 and 15(d) of the Securities Exchange Act of 1934, which require investment companies and trusts to file semiannual and annual reports with the SEC and shareholders.

Individuals ought to constantly approach a registered investment company's proxy voting record, by either accessing or requesting the information straightforwardly from the company or through the SEC's website. Many companies make the information accessible online under "Investor Relations," or by providing a complementary number for individuals wishing to request a copy via mail.

By federal law, companies are required to give their proxy voting records, free of charge, within three days of receiving a request. Investors can find out how a mutual fund gives its proxy voting record through the annual or semi-annual report to shareholder and statement of additional information.

Information Disclosed in SEC Form N-PX

A mutual fund must detail specific information on the SEC Form N-PX for issues connected with securities held in the fund. That only happens during shareholder meetings and when the fund is entitled to a vote.

A portion of the information found in the Form N-PX includes the name of the issuer of the portfolio security, the exchange ticker symbol, the Committee on Uniform Security Identification Procedures (CUSIP) number, shareholder meeting date, and a short outline of the issues up for a vote, among other material information.

Even more important, funds that invest in voting securities are required to reveal the result of the vote. The fund can vote down the proposal, abstain, withhold for the election of directors, as well as decide possibly in support of management.

Features

• Form N-PX permits existing and potential fund holders to learn about a funds proxy vote rules and designations publicly.
• SEC Form N-PX is utilized by fund companies to unveil proxy votes and procedures.
• Proxy votes permit fund holders to assign their votes at shareholder meetings to a designated representative of that fund who will show up at the meeting.