Corporate > AG Deal Diary > Recommended Reading: ISS Policy Survey Results: Proxy Access Restrictions Problematic for Most Investors
02 Oct '15

Earlier this week, Institutional Shareholder Services Inc. (ISS) released the summary of results of its annual global voting policy survey.  This year’s survey covered a range of issues, including proxy access in the U.S., overboarding for directors and CEOs globally and multiple voting rights in Europe.

In particular regarding proxy access, a large majority of investors believe ISS should issue negative recommendations if management adopts a higher-than-3 percent requirement (and 90 percent of investors seek a negative recommendation if the threshold exceeds 5 percent or if the ownership requirement exceeds three years) or if the aggregation limit is fewer than 20 shareholders (or if a cap on nominees is less than 20 percent of the existing board size).