Institutional Shareholder Services (ISS) has released its 2013 policy updates for the US, Canada, Europe and Asia and other international markets.
Each year, ISS’s global policy board formulates guidelines to be used in its proxy voting research for the upcoming year.
Highlights and key 2013 policy changes for the US market relate to pay for performance evaluation (including peer group construction and realisable pay), board responsiveness to majority supported proposals and pledging of company stock.
ISS Canada will also update its policy on pay for performance evaluation. Policy updates regarding Voto di Lista in Italy and overboarding and board tenure in the Hong Kong and Singapore markets are also notable.
"Transparency and inclusiveness is a hallmark of ISS’ policy development," said Martha Carter, ISS's head of global research and policy. "We firmly believe that our commitment to this approach enhances the value of the research we deliver to clients, and it informs our vote recommendations."
ISS will apply the updated policies to all publicly-traded company shareholder meetings as of 1 February 2013.
