Institutional Shareholder Services Releases 2013 Proxy Voting Policies
Focus on U.S. Pay for Performance, Board Responsiveness and Pledging, Voto di
Lista in Italy and Board Issues in Hong Kong and Singapore
ROCKVILLE, Md. -- November 16, 2012
Institutional Shareholder Services Inc. (ISS), a leading provider of corporate
governance solutions to the global financial community, today released its
2013 policy updates for the U.S., Canada, Europe and Asia and other
Each year, ISS’ Global Policy Board engages in a robust and transparent global
policy formulation process which culminates in benchmark ("House view")
guidelines to be used in its proxy voting research for the upcoming year. To
ensure its voting policies take into consideration the perspectives of the
corporate governance community and the views of its institutional clients, ISS
gathers broad input each year from institutional investors, companies and a
variety of other market constituents through policy surveys, issue-specific
roundtables, and an open comment period.
The ISS Global Benchmark Policy Guidelines consider market-specific
recommended best practices, transparency, and disclosure when addressing
issues such as board structure, director accountability, corporate governance
standards, executive compensation, shareholder rights, corporate transactions,
and social/environmental issues. In addition to incorporating viewpoints from
market participants, ISS policies take into account regional regulatory
changes, best practices, voting trends, and academic research.
Highlights and key 2013 policy changes for the U.S. market relate to Pay for
Performance Evaluation ( including Peer Group Construction and Realizable
Pay), Board Responsiveness to Majority Supported Proposals and Pledging of
Company Stock. ISS Canada will also update its policy on Pay for Performance
Evaluation, including quantitative and qualitative factors. Policy updates
regarding Voto di Lista in Italy and Overboarding and Board Tenure in the Hong
Kong and Singapore markets are also notable.
"Transparency and inclusiveness is a hallmark of ISS’ policy development,"
said Martha Carter, ISS' Head of Global Research and Policy. "We firmly
believe that our commitment to this approach enhances the value of the
research we deliver to clients, and it informs our vote recommendations."
ISS will apply the updated policies to all publicly-traded company shareholder
meetings as of February 1, 2013. To learn more about the policy updates and/or
ISS’ policy development process,, please visit
On December 6, at 11:00 a.m. EST; 4:00 p.m. GMT; 5:00 p.m. CET, ISS will
conduct a global policy review webcast. To register, go to:
ISS, founded in 1985 as Institutional Shareholder Services Inc., is the
world's leading provider of proxy advisory and corporate governance solutions
to financial market participants. ISS' services include objective proxy
research and analysis, end-to-end proxy voting and distribution solutions,
turnkey securities class-action claims management, and reliable governance
data and modeling tools. More than 1,700 clients rely on ISS' expertise to
help them make informed corporate governance decisions. ISS is located in
financial centers worldwide and is a subsidiary of MSCI Inc., a leading
provider of investment decision support tools to investors globally. For more
information, please visit www.issgovernance.com.
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limitation all text, data, graphs, charts (collectively, the "Information") is
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The Information has not been submitted to, nor received approval from, the
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ISS media contacts:
Cheryl Gustitus, 301-556-0395
Sarah Ball, +44 (0)207 618 2275
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