Institutional Shareholder Services Inc. ("ISS") issued its 2013 Draft Policies for review and comment. These draft policies are intended to update ISS’ benchmark proxy voting guidelines. The draft policies that have been provided for comment include the following topics:
- Board Response to Majority-Supported Shareholder Proposals (U.S.);
- Director Over-boarding (Hong Kong & Singapore);
- Board Tenure Exceeding Nine Years (Hong Kong & Singapore);
- Board Nominee Disclosure (Global);
- Management Say-on-Pay Proposals (U.S.);
- Say on Golden Parachute Proposals (U.S.);
- Pay for Performance (Canada); and
- Environmental and Social Non-Financial Performance Compensation-Related Proposals (U.S.).
All comments to the 2013 Draft Policies should be sent to ISS no later than October 31, 2012.