ESMA: Call For Candidates For The Position Of Chair Of The Committee Drafting A Proxy Advisor Industry Code Of Conduct

The European Securities and Markets Authority (ESMA) considers, as indicated in its recent report on the proxy advisory industry (ESMA/2013/84), that the appropriate approach to be taken at this point in time is to encourage the proxy advisory industry to develop its own Code of Conduct.

For the purpose of drafting this Code, the industry was invited to set up an independent Committee. The Committee comprises representatives from Glass Lewis & Co, ISS, IVOX, Manifest, Nordic Investor Services, PIRC and Proxinvest and will be the core drafting group.

The Committee hereby launches a call for candidates with interest in the position of Chair of the drafting committee. Candidates should submit their applications by 25 March 2013 at 13.00 Paris local time to pacommittee_admin@esma.europa.eu.

Whilst ESMA may act as a logistical facilitator for the work of the Committee until the Code of Conduct is finalised and at the latest until the end of 2013, the Committee will be working independently from ESMA, and assumes full responsibility for the outcome of its work.