On November 16, 2012, Institutional Shareholder Services Inc. (“ISS”) released its US policy updates for the 2013 proxy season (the “2013 Policies”), having received comments to its draft policies released October 16, 2012. The most significant 2013 Policies contain updates in respect of the following matters: (i) hedging and pledging of company stock; (ii) board responsiveness to majority-supported shareholder proposals; (iii) overboarded directors; (iv) executive pay-for-performance evaluation; (v) say on golden parachute proposals; and (vi) environmental, social and governance non-financial performance compensation related proposals. The 2013 Policies will generally be effective for shareholder meetings of publicly-traded companies held on or after February 1, 2013.View full memo, "ISS Publishes 2013 US Corporate Governance Policy Updates"
