U.S. regulator votes to propose new guidelines on shareholder advisers

Financial Post | Aug 21, 2019 at 3:46 PM
  • The U.S. Securities and Exchange Commission on Wednesday issued new guidance that aims to clarify how investors and advisory firms that cast ballots on their behalf should vote in corporate elections on issues like pay and diversity.
  • The SEC voted 3-2 to publish the new guidance.
  • Proxy advisory firms including Institutional Shareholder Services Inc and Glass, Lewis & Co tell investors how to vote on governance issues in corporate elections and cast ballots on behalf of some asset managers.