While Benedict has no direct involvement in the selection of his successor, his influence will be felt: He appointed 67 of at least 115 cardinals set to make the decision.
It has been a struggle to alter that: Bolivia's political elite fought hard against the loss of their directinfluence on the judicial system, and in-fighting over the appointment of judges to the Supreme Court had threatened to mar the change.
The measure's supporters say that proxy votes are the most direct way to influence corporate governance, and that investors have the right to know whether a fund manager has voted in their best interests.