US regulators on Wednesday issued widely awaited guidance on proxy advisory firms, which provide voting recommendations on anything from executive pay to board nominations. Critics of companies such as Glass Lewis and ISS say they have too much power and too little responsibility. The SEC reiterated its view that providing advice on voting is “solicitation” under federal law and is  governed by anti-fraud rules.

source https://finance.yahoo.com/m/1468534b-76e6-3381-ac74-bf1d43f53258/sec%3A-proxy-wars.html?.tsrc=rss