SEC to Host Proxy Advisory Firm Roundtable in December

November 5, 2013

The will host a public roundtable on December 5 to discuss the use of proxy advisory firm services by institutional investors and investment advisers.  The roundtable will be held at the SEC’s Washington, D.C. headquarters and will be open to the public and webcast live on the SEC’s website.
In its press release, the SEC stated that proxy advisory firms offer services to assist investors and investment advisers in voting on matters presented to shareholders.  Some proxy advisory firms also provide consulting services, including to publicly traded companies that may use these services to help develop proposals to be put to a shareholder vote or to improve their corporate governance ratings.
It further stated that the SEC studied the role of proxy advisory firms in a 2010 concept release on the proxy voting system.  The release sought public comment on the services provided by proxy advisory firms and on potential conflicts of interest and transparency in the proxy advisory industry.  The December 5 roundtable will provide a forum to discuss these issues.
The SEC has not released information on the agenda or the participants in the roundtable.
Click here for the press release announcing the roundtable.


Investment Advisers, Investment Companies