Elon Musk Sees Big Advisory Firm as Multibillion-Dollar Conflict

The article discusses Elon Musk’s allegations against Institutional Shareholder Services (ISS), a major advisory firm that guides shareholders on corporate voting. Musk claims that ISS has a significant conflict of interest and has failed to disclose it. He alleges that ISS has a subsidiary that provides consulting services to corporations, potentially influencing its voting recommendations. Musk argues that this creates a multibillion-dollar conflict of interest, as ISS could sway votes in favor of companies that pay for its consulting services. The article highlights Musk’s criticism of ISS’s influence over corporate elections and his call for greater transparency and accountability in the proxy advisory industry. It also mentions that ISS has denied any conflict of interest and maintains that its recommendations are independent and objective.

Source: https://abcnews.go.com/Business/wireStory/elon-musk-sees-big-advisory-firm-multibillion-dollar-110716752