ISS Updates Policy Guidance on COVID-19

Institutional Shareholder Services (ISS) recently issued updated guidance on the application of their proxy voting policies in light of the COVID-19 pandemic (“Updated Guidance”). The Updated Guidance provides insights into how ISS will assess 2020 pay decisions (and disclosed 2021 decisions) impacted by the COVID-19 pandemic and disclosed during the 2021 proxy season.

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The Updated Guidance is more specific than ISS’s initial COVID-19 guidance issued in April 2020 (see Meridian Client Update dated April 15, 2020). In its April 2020 guidance, ISS did not modify any of its proxy voting policies. At that…