Glass Lewis is weighing a move to register as a U.S. investment adviser, a shift that would bring the proxy advisory firm under greater SEC oversight — and potentially ease long-running criticism from corporate executives and Republican lawmakers about its influence on shareholder voting.
Chief Strategy Officer Cheryl Gustitus told Reuters the firm is “seriously considering” registration, though no timeline was provided. The move aligns with broader changes under CEO Bob Mann, as the company works to modernize its governance role.
Glass Lewis recently announced it will end its “benchmark” proxy voting recommendations in 2027, offering clients multiple customizable research approaches instead. “We’re trying to evolve — we’re not digging in,” Gustitus said.
Both Glass Lewis and Institutional Shareholder Services (ISS) have faced political scrutiny for their recommendations on executive pay, ESG, and climate-related resolutions. This year, both firms supported fewer environmental proposals amid heightened company climate disclosures.
ISS has been SEC-registered for 25 years, while Glass Lewis previously held the designation before withdrawing in 2005.