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House Votes to Regulate Proxy Advisors: Corporate Governance Reform and Transparency Act of 2017

On December 20, 2017, the House voted to pass the Corporate Governance Reform and Transparency Act, which places additional regulation on proxy advisory firms (e.g. ISS and Glass Lewis). The stated intent of the Act is to improve the quality of proxy advisory firms by “fostering accountability, transparency, responsiveness, and competition in the proxy advisory firm industry.”
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