News From Press Sebi issues 'procedural' guidelines for proxy advisory firms

Sebi issues 'procedural' guidelines for proxy advisory firms

There must be a stated process for the proxy advisory firms to communicate with its clients and the company, said Sebi

Mint Aug 4, 2020

Proxy firms, which advice shareholders mainly on corporate governance-related issues and assist them in voting on resolutions, need to follow some "procedural guidelines," Securities Exchange Board of India (Sebi) said today.They shall formulate the voting recommendation policies and disclose the updated voting recommendation policies to its clients. The proxy advisory firms must ensure that the policies should be reviewed at least once annually.

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