SEC Charges ISS in Breach of Clients’ Confidential Proxy Voting Information

SEC Charges ISS in Breach of Clients’ Confidential Proxy Voting Information

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On May 23, 2013, the SEC charged ISS in the breach of clients’ confidential proxy voting information as part of its investigation that found an ISS employee provided a proxy solicitor with material, nonpublic information revealing how more than 100 ISS institutional shareholder advisory clients were voting their proxy ballots. ISS agreed to settle the SEC charges by paying a $300,000 fine.  Here is the link to the SEC Press Release announcing this action:

http://www.sec.gov/news/press/2013/2013-92.htm

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