Roslyn Layton writes that proxy advisors, which provide voting services for shareholder meetings, can influence how publicly traded firms conduct their business. Two proxy firms–Glass Lewis and Institutional Shareholder Services (ISS)–have 97 percent of the market and have allowed some minority shareholders to exercise outsized influence.
The new regulation that Security and Exchange Commissioners voted in November doesn't fix proxy advisory industry duopoly problems, but it actually makes them worse:...
The draft SEC regulation on shareholder proposal and proxy advisory firms will curb the initiative of individual shareholders to improve corporate governance and transparency...
The average share of votes in favor of proposals that require corporate executives to disclose political and lobbying spending is trending up. But a...
Proxy advisory firms lack transparency and their recommendations are not always in shareholders' interests. However, despite their poor performance, the two biggest firms' market...
Institutional investors that own between 70 and 80 percent of the market value of US public companies often rely on investment advisers voting on behalf of...
A new SEC proposal regarding proxy advisors will make it harder for shareholders to vote against CEOs' preferences. However, there is a 60-day period...
SEC Commissioner Robert Jackson dissented from his SEC colleagues' proposal on how to reform proxy advisors regulation. New rules, he argues, would introduce a...