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SEC Considers More Oversight Over Proxy Advisers

The U.S. Securities and Exchange Commission is weighing whether proxy advisers have grown so influential in corporate elections that regulators should impose rules to make their business more transparent.

The roles of Institutional Shareholder Services Inc. and Glass Lewis & Co. LLC in shareholder voting is being debated by institutional investors, brokers, business groups and unions today at a meeting hosted by the SEC. ISS and Glass Lewis dominate the market for providing recommendations for votes on topics such as executive pay, nominees for boards of directors, and corporate mergers.