News & Analysis as of

Proxy Voting Proxy Voting Guidelines Proxy Season

Bradley Arant Boult Cummings LLP

Latest Changes to ISS and Glass Lewis Proxy Voting Guidelines

Institutional Shareholder Services (ISS) and Glass Lewis, two leading proxy advisory firms, recently announced updates to their U.S. proxy voting policies in advance of the 2025 proxy and annual meeting season. Public...more

Blake, Cassels & Graydon LLP

2025 Proxy Advisory Firm Voting Guidelines: Canadian Highlights

In preparation for the upcoming 2025 proxy season, issuers should familiarize themselves with the updated Canadian proxy voting guidelines recently published by Institutional Shareholder Services Inc. (ISS) and Glass, Lewis &...more

Fenwick & West LLP

Proxy Voting Advisory Firms Address Severance Payments, Cybersecurity Risk Ownership and Share Ownership Guidelines in Updates to...

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Institutional Shareholder Services (ISS) and Glass Lewis, the leading proxy voting advisory firms in the United States, have announced updates and clarifications for their voting guidelines for the U.S. market for the 2024...more

Allen Matkins

May Directors Vote By Proxy?

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Neither California's nor Delaware's General Corporation Law expressly prohibits directors from being represented by proxy at board meetings.   However, it appears to have been well settled in Delaware since at least 1915 that...more

WilmerHale

Proxy Advisory Firm Policy Updates for the 2023 Proxy Season

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In preparation for the 2023 proxy season, proxy advisory firms Glass Lewis and Institutional Shareholder Services (ISS) announced updates to their voting guidelines for investors, effective on January 1, 2023, and February 1,...more

K&L Gates LLP

SEC Adopts Final Rule Requiring Additional Proxy Voting Disclosures

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On 2 November 2022, the U.S. Securities and Exchange Commission (SEC) voted 3–2, along party lines, to adopt a final rule and form amendments (together, the Final Rule) that would require additional disclosure on Form N-PX...more

Woodruff Sawyer

SEC Adopts Amendments to Its Own Rules Regulating Proxy Advisory Firms

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Proxy advisory services have been beset by controversy. In response, in July 2020, the Securities and Exchange Commission (SEC) issued final rules (the 2020 Final Rules) tightening regulations that govern proxy advisory...more

Goodwin

SEC Adopts Amendments to Rules Governing Proxy Voting Advice

Goodwin on

The 2022 Amendments have removed the requirements that call for proxy advisory firms claiming an exemption from proxy filing rules for solicitations to provide their proxy voting advice to subject companies and provide their...more

Skadden, Arps, Slate, Meagher & Flom LLP

SEC Rescinds Certain 2020 Amendments to Rules Governing Proxy Advisors

On July 13, 2022, the U.S. Securities and Exchange Commission (SEC), by a 3-2 vote, adopted amendments to the rules governing proxy voting advice businesses (proxy advisors), rescinding two components of the proxy rules...more

Allen Matkins

Vice Chancellor Laster Finds Choice Of California Law In Proxy To Be "Facially Valid"

Allen Matkins on

Over a decade ago, I posited the following question:  "Should a proxy card specify a choice of law?"  In a recently issued ruling, Vice Chancellor J. Travis Laster noted in the following lengthy footnote that choice of law...more

Perkins Coie

Preparing for the 2022 Public Company Reporting Season

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During 2021, the U.S. Securities and Exchange Commission (SEC) adopted rule changes and provided public companies with useful guidance on various topics. In December, Institutional Shareholder Services (ISS) released its...more

Fenwick & West LLP

SEC Adopts News Rules for Proxy Voting in Contested Elections

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On November 17, 2021, the U.S. Securities and Exchange Commission adopted rules requiring the use of universal proxy cards in contested director elections as discussed in Release No. 34-93596 (the Adopting Release). Universal...more

Keating Muething & Klekamp PLL

SEC Rules Establish New Requirements For Director Elections, Universal Proxy Cards And Enhanced Proxy Disclosures; Additional...

In a move we expect will pave the road for an increase in proxy contests, on November 17, 2021, the Securities and Exchange Commission adopted new Rule 14a-19 and amendments to existing rules under the Securities Exchange Act...more

Womble Bond Dickinson

SEC Adopts Final Rules for Proxy Advisors

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Firms that advise institutional advisers and institutional investors in the proxy voting process (“proxy advisors”) have gained prominence in recent years, but have also faced increased scrutiny regarding the accuracy and...more

Mayer Brown Free Writings + Perspectives

US SEC Issues Supplementary Proxy Voting Guidance for Investment Advisers

On July 22, 2020, the US Securities and Exchange Commission (SEC) published supplementary guidance in the form of a policy statement (Policy Statement) regarding the proxy voting responsibilities of investment advisers under...more

Troutman Pepper Locke

SEC Adopts Amendments to Provide Investors More Information on Proxy Voting Advice

Troutman Pepper Locke on

On July 22, the U.S. Securities and Exchange Commission (SEC) voted to adopt amendments (Amendments) to certain of its rules governing proxy solicitations under the Securities Exchange Act of 1934 (Exchange Act). The...more

Mayer Brown Free Writings + Perspectives

Amendments to Proxy Rules

Yesterday, the Securities and Exchange Commission adopted amendments to the proxy rules.  ...more

King & Spalding

SEC Views Proxy Advice as Solicitation under Federal Proxy Rules

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The nation’s largest shareholder advisory firm, Institutional Shareholder Services Inc. (“ISS”), recently filed suit against the SEC over new guidelines meant to give investors more transparency into how proxy advisory firms...more

Blake, Cassels & Graydon LLP

2020 Proxy Advisory Firm Voting Guidelines: Canadian Highlights

In preparation for the upcoming proxy season, issuers should familiarize themselves with the Canadian proxy voting guidelines recently published by Institutional Shareholder Services Inc. (ISS) and Glass Lewis & Co. (Glass...more

Mayer Brown Free Writings + Perspectives

Legal Update: 10 Tips for 10-Ks and Proxy Statements (UPDATED)

With the 2020 proxy and annual reporting season upon us, this Legal Update provides 10 tips for companies to consider when drafting annual reports on Form 10-K and proxy statements for filing with the US Securities and...more

Skadden, Arps, Slate, Meagher & Flom LLP

Preparing for the Shareholder Proposal Season

On November 14, 2019, Skadden held a webinar titled “Preparing for the Shareholder Proposal Season” with panelists Amy Borrus, Deputy Director of the Council of Institutional Investors (CII); Marc Lindsay, Senior Strategist,...more

Mayer Brown Free Writings + Perspectives

SEC Provides Guidance Relating to the Proxy Voting Process: First Analysis

In this Lexis Practice Advisor Practice Note, we discuss two releases published by the Securities and Exchange Commission (SEC) on August 21, 2019. One release contains interpretation and guidance regarding the applicability...more

Fenwick & West LLP

SEC Proposes Rules Targeting Proxy Advisory Firms

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The U.S. Securities and Exchange Commission has proposed amendments to the proxy solicitation rules, directly targeting proxy advisory firms (Release No. 34-87457). Consistent with the updated interpretative guidance the SEC...more

White & Case LLP

ISS Issues Proxy Voting Guidelines for the 2020 Proxy Season

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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

A&O Shearman

2020 Proxy Season – Quick Reference Guide

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Board Oversight Disclosure. Over the past several years, companies have increasingly used their proxy statements to communicate how their boards have exercised oversight over key matters. We expect this trend to accelerate in...more

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