Proxy advisory firms play an essential—perhaps even central—role in our governance system. Their recommendations have tremendous influence on shareholder-vote outcomes. However, unlike other information intermediaries in influential capital markets—such as credit-rating agencies and auditing firms—proxy advisory firms have faced little regulation.

Moderator

Michael Piwowar

Executive Director, Center for Financial Markets, Milken Institute

Speakers

Karen Barr

President and CEO, Investment Adviser Association

David Hirschmann

President and CEO, Center for Capital Markets Competitiveness, U.S. Chamber of Commerce

Patrick McGurn

Special Counsel and Head of Strategic Research and Analysis, Institutional Shareholder Services Inc.

Katherine Rabin

CEO, Glass Lewis & Co.

Chester Spatt

Pamela R. and Kenneth B. Dunn Professor of Finance, Tepper School of Business, Carnegie Mellon University; Senior Fellow, Center for Financial Markets, Milken Institute


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