Proxy adviser Institutional Shareholder Services Inc on Thursday sued the U.S. S...
WASHINGTON - Proxy adviser Institutional Shareholder Services Inc on Thursday sued the U.S. Securities and Exchange Commission over guidance aiming to clarify how investors and firms that vote on their behalf should cast their ballots in corporate elections.
Proxy advisers and investors worry the regulatory guidance may diminish voting rights and constrain shareholders’ ability to hold corporations accountable. He added that the SEC’s August guidance impedes proxy advisers’ ability to provide independent and timely delivery of its data, research and analyses to investors. The proxy advisor firm is asking the court to find the SEC’s guidance invalid and stop it from enforcing it.
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