SEC ADVISORY FIRM REGULATION

On July 22, 2020 the Securities and Exchange Commission passed a set of rules regulating the independent proxy advisory firms, a space currently dominated by ISS and Glass Lewis.  This Proxy Update will not rehash the lengthy (10 year+) and hotly debated process, including ISS filing a lawsuit against the SEC in the fall of 2019, that led to the adoption of these new regulations. We will focus instead on the key provisions of the rules that affect our clients and the practical impact they will have on proxy solicitation campaigns going forward.