ISS has opened the annual comment period for its 2011 proxy voting policies.
The comment period, part of ISS’ policy development process, offers institutional investors, corporate issuers, and industry constituents the opportunity to provide feedback on ISS draft policy updates.
The comment period runs through Nov. 11 and solicits feedback on 11 updates to ISS’ proxy voting policy guidelines in markets worldwide. Topics covered include "say on pay" and authorized capital requests in the U.S., dilution/burn rate limits regarding equity-based remuneration in Europe, board independence in Canada, Japanese pay disclosure/deep-discount options, and domestic issuers incorporated outside the United States.
“Engaging with a broad range of market participants on our draft policies is crucial to ISS’ process for developing transparent policy guidelines,” said Steve Harvey, Head of Business at ISS. “Offering this level of transparency around our voting policies is unique to ISS and critical to representing balanced global policies for investors.”
ISS gathers input each year from clients and market constituents through a policy survey, issue-oriented roundtables, and a unique open comment period to ensure its voting policies comprise a broad range of views. This year’s policy survey had more than 900 respondents. The full results from the survey are posted on ISS’ Policy Gateway.
“With so many changes to the market and regulatory landscape for governance this year, we focused on clients’ fundamental views and priorities regarding key corporate governance issues,” said Dr. Martha Carter, Head of Global Research at ISS. “Our policy formulation process is designed to be collaborative so investors and issuers can engage effectively on the most important topics.”
ISS plans to release its final 2011 U.S. and international policy updates in late November and its global policy summary and concise guidelines in late December. To participate in the comment period and learn more about the ISS policy formulation process, please visit http://www.issgovernance.com/policy.