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Jul 22, 2014
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Proxy advisers now face real scrutiny
The Securities and Exchange Board of India’s (Sebi's) planned research analyst regulations will also apply to proxy advisory services which provide advice on corporate governance and issue voting recommendations to institutional shareholders regarding company resolutions.
The norms would require them to maintain a minimum net worth, disclose the extent of research behind their recommendations, and policies on interacting with and getting responses from the companies on which they are issuing reports.
Source -
http://www.business-standard.com
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