ISS and Glass Lewis are about to see what new limits the SEC wants to put on them.
The Securities and Exchange Commission will consider whether to propose new rules for proxy advisory firms Nov. 5 amid corporate calls to rein them in. Companies have said Institutional Shareholder Services Inc. and Glass, Lewis & Co. have too much power over shareholder voting and lack transparency.
The planned rule changes for proxy advisers include disclosure on conflicts of interest and more interaction with companies and investors, according to an open meeting agenda released Oct. 29.
The SEC already has started to ...