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TCH Files Comment Letter to ISS on Proposed Policy on Majority-Supported Shareholder Proposals

The Clearing House Association submitted a comment letter on the Institutional Shareholder Services' proposed new policy stating that it would recommend voting against or abstain in the re-election of corporate directors if their board did not enact majority-supported shareholder proposals. TCH argued against the proposal stating that the change would make it more difficult for directors to evaluate shareholder proposals in an informed and considered manner and to determine an appropriate response.