Sen. Sullivan explains new bill seeking to curb power of asset managers like BlackRock and Vanguard

CNBC Television published this video item, entitled “Sen. Sullivan explains new bill seeking to curb power of asset managers like BlackRock and Vanguard” – below is their description.

Sen. Dan Sullivan (R-Alaska) joins CNBC’s ‘Squawk Box’ to break down his proposed ‘INDEX Act,’ which would require managers of passively-managed funds to allow individual investors to vote on proxies.

CNBC Television YouTube Channel

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CNBC is an American pay television business news channel, which primarily carries business day coverage of U.S. and international financial markets. Following the end of the business day and on non-trading days, CNBC primarily carries financial and business-themed documentaries and reality shows.

As of February 2015, CNBC is available to approximately 93,623,000 pay television households (80.4% of households with television) in the United States.

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BlackRock, Inc. (NYSE: BLK) is an American global investment management corporation based in New York City. Founded in 1988, initially as a risk management and fixed income institutional asset manager, BlackRock is the world’s largest asset manager, with $7.4 trillion in assets under management as of end-Q4 2019.

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Voting is a method for a group, such as a meeting or an electorate, in order to make a collective decision or express an opinion usually following discussions, debates or election campaigns. Democracies elect holders of high office by voting. Residents of a place represented by an elected official are called “constituents”, and those constituents who cast a ballot for their chosen candidate are called “voters”. There are different systems for collecting votes, but while many of the systems used in decision-making can also be used as electoral systems, any which cater for proportional representation can only be used in elections.

In smaller organizations, voting can occur in different ways. Formally via ballot to elect others for example within a workplace, to elect members of political associations or to choose roles for others. Informally voting could occur as a spoken agreement or as a verbal gesture like a raised hand or electronically.

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