Compound Conflicts of Interest in the US Proxy System
Cynthia E. Clark, Harry J. Van Buren III
Journal of Business Ethics · 2013 · Volume 116 · Issue 2
DOI: 10.1007/s10551-012-1460-x
Abstract
…we’ll be asking about the role of proxy advisory firms in corporate voting. Given the influence that these firms’ recommendations have on corporate voting outcomes, we’ll probe the need for rules to ensure that advisory firms are basing their research and recommendations on accurate and reliable information. And, that they are providing adequate disclosure of any conflicts of interest they may have in providing voting recommendations.Mary Schapiro, Chair, Securities and Exchange Commission (SEC), Nov. 2009
Keywords
Conflicts of interest, Fiduciary duty, Governance ratings, Proxy voting, United States
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