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ARTICLE · 22 NOVEMBER 2019

SEC Proposes Amendments To Rules Governing Proxy Advisors And Proxy Voting Advice

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On November 5, 2019, the Securities and Exchange Commission (SEC) proposed amendments to its rules governing proxy solicitations. If adopted in their current form

United StatesCorporate/Commercial Law

On November 5, 2019, the Securities and Exchange Commission (SEC) proposed amendments to its rules governing proxy solicitations. If adopted in their current form, these proposals could significantly affect interactions between public companies and proxy advisors like Institutional Shareholder Services Inc. (ISS) and Glass, Lewis & Co., LLC (Glass Lewis). Among other things, the proposals seek to address concerns about the role of proxy advisors, including conflicts of interest and transparency in developing proxy voting advice, that have been the subject of considerable public discussion for many years, including in the SEC’s 2010 Concept Release on the U.S. Proxy System.

As described in more detail below, the proposals would:

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