Article
DOJ Withdraws Antitrust Guidance For Proxy Advisory Industry
The U.S. Department of Justice has withdrawn a decades-old business review letter issued to Institutional Shareholder Services, the nation's largest proxy advisor, amid growing concerns about market concentration and influence over corporate governance. This development follows state-level regulatory efforts, a Florida antitrust lawsuit, and a presidential executive order targeting the proxy advisory industry's role in promoting ESG and DEI initiatives.
Jones Day