Law360 (May 10, 2021, 2:11 PM EDT) — A new April report from the Manhattan Institute took an initial look at how asset managers are responding now that the U.S. Securities and Exchange Commission finalized a rule governing the conduct of proxy advisers, and issued guidance cautioning asset managers about robo-voting, or automatically voting in line with proxy adviser recommendations.[1][2][3]Although the report showed a modest decline in robo-voting, the SEC should continue to monitor asset managers’ use of proxy advisers to ensure they are not wholly outsourcing their voting responsibilities.Back in 2018, I drafted a report that initially quantified robo-voting and cautioned against the practice.[4] The core…