What are ISS and Glass Lewis and Why Should My Bank Care?
Institutional Shareholder Services (ISS) and Glass Lewis, the leading proxy advisors in the United States, have announced updates and clarifications for their voting guidelines for the 2022 proxy season. Their voting...more
Gary Gensler, the new chairman of the U.S. Securities and Exchange Commission, released a statement on June 1, 2021, directing SEC staff to consider revisiting its interpretation and guidance from September 2019 regarding the...more
REGULATORY UPDATES - FINRA Issues Regulation Best Interest Checklist for Brokers - On October 8, 2019, the Financial Industry Regulatory Authority (“FINRA”) announced it will provide new resources to assist member firms...more
Caremark Developments -- Do You Know What You Don’t Know? In 1996, the Delaware courts created what has become known as a Caremark claim: an allegation that directors failed to exercise oversight of the organization....more
On November 5, 2019, the Securities and Exchange Commission (“SEC”) proposed amendments to the federal proxy rules that would enhance the SEC’s regulation of proxy advisory firms.1 The proposed amendments to Rules 14a-1,...more
On November 11, 2019, Institutional Shareholder Services, Inc. (“ISS”) published its proxy voting guidelines updates (the “2020 Updates”) for the 2020 proxy season, effective for meetings on or after February 1, 2020. The...more
On November 5, 2019, the Securities and Exchange Commission (SEC) proposed amendments to its rules governing proxy solicitations. If adopted in their current form, these proposals could significantly affect interactions...more
SEC/CORPORATE - Delaware State Bar Association Council Releases Proposed Amendments to the Delaware General Corporation Law - The Corporate Council of the Corporation Law Section of the Delaware State Bar Association...more
On October 15, 2014, Institutional Shareholder Services Inc. (ISS) requested comments by October 29, 2015, on its draft voting policy changes for 2015 on select topics. Both of the proposed updates for the U.S. are designed...more