ISS And Glass Lewis Release 2016 Canadian Proxy Voting Guidelines

Institutional Shareholder Services ("ISS") and Glass, Lewis & Co., LLC ("Glass Lewis"), two leading proxy advisory firms, recently released updated guidelines for the 2016 Canadian proxy season. Many of the revisions focus on director responsibility and accountability. Given the influence that ISS and Glass Lewis have on voting, issuers should be cognizant of these guidelines and their potential implications. For the ISS guidelines update, see here. For the Glass Lewis guidelines update, see here.

ISS

The ISS "Canada Proxy Voting Guidelines Updates" modifies ISS' approach to overboarded directors, board accountability at externally-managed issuers ("EMIs"), and equity compensation plans.