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Proxy Firms ISS, Glass Lewis Set to Get New SEC Rules

July 15, 2020, 5:05 PM

The SEC will vote next week on final regulations that could give companies extra time to respond to voting recommendations that proxy advisory firms make to institutional shareholders.

The Securities and Exchange Commission will consider proxy rule amendments July 22, according to an open meeting notice posted Wednesday. The SEC also will vote on fiduciary duty guidance for institutional investors that cast proxy votes on behalf of their clients, the announcement said.

Proxy firms like Institutional Shareholder Services Inc. and Glass, Lewis & Co. have faced increased SEC scrutiny since the arrival of Republican Commissioner Elad Roisman in 2018. SEC...

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