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ARTICLE · 10 JANUARY 2024

ISS And Glass Lewis Update 2024 Proxy Voting Guidelines

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Glass, Lewis & Co (Glass Lewis) and Institutional Shareholder Services (ISS) have each released updates to their Canadian proxy voting guidelines for the 2024 proxy season.

CanadaCorporate/Commercial Law
Adam Weryha
Adam Weryha
Kristopher R. Hanc
Kristopher R. Hanc
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Glass, Lewis & Co (Glass Lewis) and Institutional Shareholder Services (ISS) have each released updates to their Canadian proxy voting guidelines for the 2024 proxy season. The Glass Lewis updates apply to shareholder meetings of publicly traded Canadian companies held after January 1, 2024 and the ISS updates are effective for shareholder meetings occurring on or after February 1, 2024.

Recommendations from proxy advisory firms such as Glass Lewis and ISS can have a significant impact on the outcome of business conducted at shareholder meetings, especially if institutional investors comprise a significant portion of the company's shareholder base. Canadian public companies should review the updates with their legal counsel to determine the impact on disclosure and governance practices and take steps to mitigate any potential adverse voting recommendations from Glass Lewis or ISS.

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