{"id":1621,"date":"2019-12-09T10:46:11","date_gmt":"2019-12-09T15:46:11","guid":{"rendered":"https:\/\/seci.wpenginepowered.com\/?p=1621"},"modified":"2019-12-09T10:46:11","modified_gmt":"2019-12-09T15:46:11","slug":"proxy-advisory-firms-sec-guidance-and-an-iss-survey","status":"publish","type":"post","link":"https:\/\/seciblog.pli.edu\/index.php\/proxy-advisory-firms-sec-guidance-and-an-iss-survey\/","title":{"rendered":"Proxy Advisory Firms \u2013 SEC Guidance and an ISS Survey"},"content":{"rendered":"<p>The role of proxy advisory firms has been hotly and extensively debated over the years.\u00a0 In <a href=\"https:\/\/www.sec.gov\/news\/press-release\/2019-158\">August 2019 the SEC issued guidance<\/a> that:<\/p>\n<p style=\"padding-left: 30px;\">\u00a0Addressed the ability of investment advisers to establish a variety of different voting arrangements with their clients,<\/p>\n<p style=\"padding-left: 30px;\">Discussed matters investment advisers should consider when they use the services of a proxy advisory firm,<\/p>\n<p style=\"padding-left: 30px;\">Included an interpretation that proxy voting advice provided by proxy advisory firms generally constitutes a \u201csolicitation\u201d under the federal proxy rules, and<\/p>\n<p style=\"padding-left: 30px;\">Provided related guidance about the application of the proxy antifraud rule to proxy voting advice.<\/p>\n<p>The discussion about proxy advisory firms continues, and as part of this evolution ISS has released their annual <a href=\"https:\/\/www.issgovernance.com\/file\/policy\/2019-2020-iss-policy-survey-results-report.pdf\">Global Policy Survey<\/a>.\u00a0 For an interesting number of comments and perspectives on the survey, including discussion of ESG issues, you can read <a href=\"https:\/\/www.soundboardgovernance.com\/post\/iss-policy-survey-results-2019\">this post on the soundboard governance blog<\/a>.\u00a0 This blog is authored by Doug Chia, a Fellow at the Rutgers Center for Corporate Law and Governance.<\/p>\n<p>Lastly, as a next step in this area, on November 5, 2019 the SEC <a href=\"https:\/\/www.sec.gov\/news\/press-release\/2019-231\">proposed a rule to \u201cimprove accuracy and transparency of proxy voting advice\u201d.<\/a><\/p>\n<p>As always, your thoughts and comments are welcome!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The role of proxy advisory firms has been hotly and extensively debated over the years.\u00a0 In August 2019 the SEC issued guidance that: \u00a0Addressed the ability of investment advisers to establish a variety of different voting arrangements with their clients, Discussed matters investment advisers should consider when they use the services of a proxy advisory &hellip; <a href=\"https:\/\/seciblog.pli.edu\/index.php\/proxy-advisory-firms-sec-guidance-and-an-iss-survey\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Proxy Advisory Firms \u2013 SEC Guidance and an ISS Survey<\/span> <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":9,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"_wpas_customize_per_network":false,"jetpack_post_was_ever_published":false},"categories":[242],"tags":[],"coauthors":[154],"class_list":["post-1621","post","type-post","status-publish","format-standard","hentry","category-reporting"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"post_mailing_queue_ids":[],"_links":{"self":[{"href":"https:\/\/seciblog.pli.edu\/index.php\/wp-json\/wp\/v2\/posts\/1621","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/seciblog.pli.edu\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/seciblog.pli.edu\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/seciblog.pli.edu\/index.php\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/seciblog.pli.edu\/index.php\/wp-json\/wp\/v2\/comments?post=1621"}],"version-history":[{"count":0,"href":"https:\/\/seciblog.pli.edu\/index.php\/wp-json\/wp\/v2\/posts\/1621\/revisions"}],"wp:attachment":[{"href":"https:\/\/seciblog.pli.edu\/index.php\/wp-json\/wp\/v2\/media?parent=1621"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/seciblog.pli.edu\/index.php\/wp-json\/wp\/v2\/categories?post=1621"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/seciblog.pli.edu\/index.php\/wp-json\/wp\/v2\/tags?post=1621"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/seciblog.pli.edu\/index.php\/wp-json\/wp\/v2\/coauthors?post=1621"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}