Fiduciaries are obligated to vote proxies:

Fiduciaries are obligated to vote proxies:
A . none of these answers.
B . on an "as needed" basis, depending on the issue at hand.
C . only when there is a nonroutine governance issue.
D . only when there is a change in firm capitalization.
E . in an informed and responsible manner.
F . only when management requests the fiduciary to vote, in writing.

View Answer

Answer: E

Explanation:

As part of a fiduciary’s duty of loyalty, they are obligated to vote proxies in an informed and responsible manner. A fiduciary who fails to vote, casts a vote without considering the impact of the question or votes blindly with management on nongovernance issues may violate this duty of loyalty.