Chief executive pay deals in the US have begun to cluster around the same levels regardless of the size or profitability of the firms involved.

Investors lead backlash against Rio Tinto over destruction of Aboriginal sites. Plus a warning from ecoDa on sustainability, and analysis of Australia’s audit market.

The US Department of Labor has proposed new rules that could undermine the ability of proxy advisers to vote on non-financial issues such as ESG.

Research shows the downgrading of a firm’s ISS governance rating can result in a 1% slide in share performance—and the fall in value is not recovered.

US proxy advisory firm will advise shareholders to vote against nomination committee chairs where there are no female board directors.

The proxy advisory firm has asked that new regulatory demands be set aside, claiming the watchdog “lacks authority” and its actions are “contrary to law”.

Nearly two-thirds of investors say proxy adviser ISS should recommend voting against the election or re-election of a board chair if they are not “independent”, regardless of the overall independence of the board.

US financial watchdog warns that investment firms using proxy advisers must “ensure the use of advice is consistent with their fiduciary duties”.

Glass Lewis, ISS, Manifest, Proxinvest and Pirc agree to abide by new principles that sees them reveal policies for managing potential conflicts of interest.

The US is witnessing a fraught debate over the role of proxy advisers, including efforts to introduce new regulation. The debate continues this week at a Securities and Exchange Commission roundtable.