Will beneficiaries be able to investigate the voting record of an aggregator?

Yes. Larger aggregators’ voting records will be disclosed with both summary reports and details of individual votes. An aggregator might add comments to his record explaining individual voting decisions. If an aggregator transfers voting rights to another aggregator, his record will reflect how the votes were ultimately cast. The exchange will provide sophisticated tools on its website to query, view summary reports on, and compare the voting records of aggregators.

The proxy exchange will also conduct ongoing statistical analyses of aggregators'  voting patterns and send out alerts if an aggregator's voting behavior suddenly changes. This will be helpful for shareholders who transfer rights to an aggregator, but it will also be helpful for the aggregators themselves. An example would be an organization that acts as an aggregator and is unaware that an employee has started placing unauthorized votes on the organization's behalf. An alert from the proxy exchange could let them know something was amiss. The statistical analyses that generate alerts will largely be based on an assessment of which aggregators tend to vote similarly. If an aggregator historically tended to vote in a manner similar to one group of other aggregators, but suddenly started voting similarly to a different group, that would generate an alert.