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Glass-Steagall; Conflicts of interest; shareholder; corporate law; securities law; proxy advisory firm; consulting services; retail investor; Employee Retirement Income Security Act; ERISA; Securities and Exchange Commission; SEC; Commission; proxy voting; insitutional investors; BlackRock; Vanguard; Glass Lewis; Institutional Shareholder Services Inc.; ISS; pension; 10-k; exchange-traded funds; ETF; SEC Rule 14a-1; Securities Exchange Act; proxy rules; Investment Advisors Act; Rule 203A-2; pension consultant; Emergency Banking Act; United States Banking Act; Federal Reserve Act; Federal Deposit Insurance Corporation; FDIC; Bank Holding Companies;
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Full-Text Articles in Securities Law
Reducing Conflicts Of Interest: A "Glass-Steagall" Split Of Advisory And Consulting Services Of Proxy Advisory Firms, Austin Manna
Reducing Conflicts Of Interest: A "Glass-Steagall" Split Of Advisory And Consulting Services Of Proxy Advisory Firms, Austin Manna
Brooklyn Journal of Corporate, Financial & Commercial Law
This Note explores a solution to the potential problem with proxy advisory firms that involves an inherent conflict of interest arising from the structure of two services—advisory and consulting services—offered at certain proxy advisory firms in the United States. The solution proposed in this paper applies a Glass-Steagall framework to breakup these two services of the proxy advisory firms. In theory, this would eliminate the inherent conflicts of interest.