Protecting American Investors From Foreign-Owned and Politically-Motivated Proxy Advisors

Document overview

Summary

Section 1 . Purpose. Unbeknownst to many Americans, two foreign-owned proxy advisors, Institutional Shareholder Services Inc. and Glass, Lewis & Co., LLC, play a significant role in shaping the policies and priorities of America's largest companies through the shareholder voting process. These firms, which control more than 90 percent of the proxy advisor market, advise their clients about how to vote the enormous numbers of shares their clients hold and manage on behalf of millions of Americans in mutual funds and exchange traded funds.…

When the Federal Register does not provide a substantive abstract, Civixly selects a meaningful passage from the official text or clearly labels a title-based fallback.