Defendant Name: Institutional Shareholder Services, Inc.

Defendant Type: Subsidiary of Public Company
Public Company Parent: MSCI Inc
SIC Code: 7389
CUSIP: 55354G10

Initial Case Details

Legal Case Name In the Matter of Institutional Shareholder Services Inc.
First Document Date 23-May-2013
Initial Filing Format Administrative Action
File Number 3-15331
Allegation Type Investment Advisers/Investment Companies

Violations Alleged

Section 204A Investment Advisors Act


First Resolution Date 23-May-2013
Headline Total Penalty and Disgorgement

See Related Documents

Related Documents:

IA-3611 23-May-2013 Administrative Proceeding
Order Instituting Administrative and Cease-and-Desist Proceedings Pursuant to Sections 203(e) and 203(k) of the Investment Advisors Act of 1940, Making Findings, and Imposing Remedial Sanctions and a Cease-and-Desist Order
On May 23, 2013, the SEC issued an administrative order instituting a cease-and-desist proceeding pursuant to Sections 203(e) and 203(k) of the Investment Advisers Act against Institutional Shareholder Services Inc. (ISS). The SEC found that from approximately 2007 through early 2012 "an ISS employee provided information to a proxy solicitor concerning how more than 100 of ISS's institutional shareholder advisory clients were voting their proxy ballots. In exchange for vote information, the proxy solicitor gave the ISS employee meals, expensive tickets to concerts and sporting events, and an airline ticket." Considering ISS's offer of settlement and remediation efforts, the SEC ordered it to "cease-and-desist from committing or causing any violations and any future violations of Section 204A of the Advisers Act, and to pay a civil penalty of $300,000."
2013-92 23-May-2013 Press Release--Administrative Proceeding
SEC Charges Institutional Shareholder Services in Breach of Clients' Confidential Proxy Voting Information
On May 23, 2013, the SEC announced that it "charged Rockville, Md.-based proxy adviser Institutional Shareholder Services (ISS) for failing to safeguard the confidential proxy voting information of clients participating in a number of significant proxy contests."

Related Actions:

In the Matter of Brian M. Bennett (f/k/a Brian M. Zentmyer)