Institutional Shareholder Services issued the following statement in light of today’s announcement by U.S. Securities and Exchange Commission Chairman, Gary Gensler, regarding the application of the proxy rules to proxy voting advice:

“We welcome the SEC’s announced decision to consider revisiting its proxy adviser rulemaking, which we believe was ill-conceived, inconsistent with the law, and pushed through under the previous administration against the wishes of investors the agency is meant to protect,” said Gary Retelny, President & CEO of Institutional Shareholder Services. “We look forward to participating in the upcoming rulemaking process and encourage all good governance supporters to do the same.”

Statement from ISS on Today’s SEC Announcement