ECGS and Proxinvest welcome the public consultation on the Best Practice Principles for Governance Research

ECGS and Proxinvest welcome the public consultation on the Best Practice Principles for Governance Research, a consultation which will remain open until December 20th 2013. 

The final version should be released by February 2014 and be then left for adoption by the providers on a "comply or explain" basis.

 

The drafting committee which is independent from the European Securities and Markets Authority (ESMA) – has drafted the Principles following ESMA’s 19 February 2013 Final Report which stated that the proxy advisory industry would benefit from increased disclosure and transparency regarding how it operates.

The drafted Principles, guidance and consultation document can be found here.

For more information about the consultation and the drafting of these principles visit the researcher Group's website here.

Its chairman was a German law professor, Dr. Dirk Andreas Zetzsche of the Liechtenstein and Düsseldorf universities.

Members of the drafting committee were:

•Glass, Lewis & Co

•Institutional Shareholder Services Inc.

•IVOX GmbH

•Manifest Information Services Ltd.

•PIRC Ltd.

•Proxinvest SARL (Managing partner of the ECGS proxy network).

These principles should help clients, issuers and markets in which they operate, understand the proxy research service industry

                                                                                                                                                                                                 London, 28 October, 2013