Listed firms may come to resolve grievances against proxy advisors: Sebi

Listed companies may approach Sebi to resolve grievances against proxy advisors, who advise shareholders on corporate governance issues and assist them with voting recommendation, the market regulator said on Tuesday.

This will be applicable from September 1, according to a Securities and Exchange Board of India (Sebi) circular.

The regulator noted that proxy advisors, over the past few years, have played a key role in enabling shareholders to effectively participate in corporate governance decisions.

Proxy advisors provide advice to institutional investors or shareholders of a listed entity, in relation to exercise of their rights in the company including voting recommendation