ISS challenges SEC subpoena seeking client proxy voting data

ISS filed a court brief challenging an SEC subpoena seeking nearly four years of client proxy-voting records on sensitive governance issues. The company argued the demand lacks a stated investigative purpose, breaches client confidentiality, and risks chilling protected speech under the First Amendment. ISS linked the subpoena to a late-2025 Trump executive order urging action against proxy advisers, raising the risk of retaliation against clients. Federal courts have already blocked enforcement of similar state disclosure laws targeting proxy advisers in Texas, Indiana, and Kansas. Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. ISS — Institutional Shareholder Services Inc. published the original content used to generate this news brief on September 18, 2026, and is solely responsible for the information contained therein. (C)