A change or addition to the current law/policy regarding how mutual funds and EBTs are governed. Currently, companies such as Blackrock, Vanguard, Fidelity, etc., take investor money and purchase shares in companies. Investors receive shares in a particular fund but don’t actually own the shares of the companies inside the fund. These companies then use other people’s money to get voting rights for all of the companies they own shares in.
Example is the government Thrift Savings Plan (TSP). Government employees get several options for investments but they are just funds that mirror the market. Blackrock controls the money and owns the actual shares. Blackrock then gets to use government employee money to have a controlling interest in many American companies.
This needs to be changed. Brokerages should not get voting rights for shares purchased with investors money.