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ARTICLE · 04 DECEMBER 2012

ISS And Glass Lewis 2013 Proxy Season Guidelines

Proxy advisory firms ISS and Glass Lewis recently released their proxy voting policy updates for the 2013 proxy season.

CanadaCorporate/Commercial Law

Proxy advisory firms Institutional Shareholder Services Inc. ("ISS") and Glass Lewis & Co. ("Glass Lewis") recently released their proxy voting policy updates for the 2013 proxy season. The new guidelines address, among other things, corporate governance standards, executive compensation and shareholder rights. This update summarizes the significant changes made to the proxy voting guidelines affecting Canadian issuers, effective for shareholder meetings on or after February 1, 2013.

Corporate Governance

Election of Directors by Slate Ballot

  • Previously, ISS withheld support for all directors nominated by slate ballot at meetings of TSX reporting issuers. ISS updated its policy to include nominations by slate ballot at meetings of both TSX and TSXV reporting issuers, whether or not there are additional governance concerns. This new policy will not apply to contested director elections.

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