An overview of the Glass Lewis approach to proxy advice - CANADA
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On November 19, 2019, the Ontario Securities Commission (OSC) issued its long-awaited Report on the work of the Burden Reduction Task Force (the Report), in which it outlined the work undertaken by the OSC and the Task Force, aimed at minimizing regulatory burdens and enhancing competitiveness (the Burden Reduction Initiative).
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Trust and transparency have been challenging in the cannabis industry: whether related to product trust and transparency or to public disclosure of conflicts of interest. And the need for trust and transparency has not gone unnoticed by securities regulators. In reviewing disclosure relating to M&A and other significant corporate transactions by cannabis issuers, the Canadian Securities Administrators (CSA) suggested that there was inadequate transparency and disclosure of financial and other interests.
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Investors have mixed feelings about pay-for-performance metrics, according to new report.
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Half of IROs do not take a kindly view of the far-reaching European legislation.
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The appropriate level of regulation of Institutional Shareholder Services (ISS) and other proxy advisory firms has been on the SEC's radar for several years. The debate has now led to ISS suing the SEC over the SEC's recently published interpretation of the application of federal proxy rules to ISS. Five days after ISS launched its lawsuit, the SEC published proposed rules that would impose substantially stricter regulations on proxy advisory firms.
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Even as allocators increase their investments in alternatives, hedge funds are losing out, according to a new study from EY.
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Last week, the SEC voted (by a vote of three to two) to propose amendments to the proxy rules to add new disclosure and engagement requirements for proxy advisory firms, such as ISS and Glass Lewis.
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On October 24, 2019, the Canadian Securities Administrators (CSA) announced that it is undertaking a review of Automatic Securities Disposition Plans (ASDPs). ASDPs allow company insiders to sell their company securities through a broker in accordance with predetermined instructions.
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The Securities and Exchange Commission today voted to propose amendments to modernize the rule that governs the process for shareholder proposals to be included in a company's proxy statement.
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