Statement from ISS’ Head of Australia & New Zealand Research, Vas Kolesnikoff, Regarding Australia’s Treasury Laws Amendment (Greater Transparency of Proxy Advice) Regulations 2021

SYDNEY (December 20, 2021) — “We are disappointed and surprised by Treasury’s decision to put forward these new rules without advance notice and, critically, with compliance expected in under 60 days, including over the holiday season,” said Vas Kolesnikoff, Head of Australia & New Zealand Research at Institutional Shareholder Services. “We disagree on the need for any new regulation of proxy advisory firms and the manner in which they were rushed through, and are concerned with the potential that these efforts will hamper, not help, the ability of investors to receive high quality, independent proxy research. While we are not supportive of this new regime, ISS is committed to maintaining our long-standing presence in the Australian market, and continuing to provide our clients with the critical research that they need and value, while ensuring that we comply with applicable laws and regulations.”