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Troy Downing: “Today we have a duopoly with ISS in Glass Lewis making up…”

Featuring: Troy Downing, Republican | U.S. House Montana, 2nd Congressional District

Troy Downing: Activists Tried To 'Force Companies' To Adopt Policies Dems Couldn't Pass In Congress

Published September 13, 2025 | Video Starts at 01:56

And so I'm going to start here on proxy advisors. Thank you for bearing with me on that. Today we have a duopoly with ISS in Glass Lewis making up 97% of the proxy advisory market. And often it seems like these firms care more about pushing a social and environmental agenda on public companies than doing what is best for their shareholders. (01:56–02:03)

CLAIM

Asserts that ISS and Glass Lewis control 97% of the proxy advisory market.

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Troy Downing

“Proxy advisor firms have no legal obligation to act in the best interest of their shareholders, despite having enormous sway.”
Troy Downing: Activists Tried To 'Force Companies' To Adopt Policies Dems Couldn't Pass In Congress | Uploaded September 13, 2025 | 02:12-02:20
“SEC Chair Paul Atkins has already rescinded some of these decisions that permitted the worst abuses of the shareholder proposal process.”
Troy Downing: Activists Tried To 'Force Companies' To Adopt Policies Dems Couldn't Pass In Congress | Uploaded September 13, 2025 | 03:14-03:22
“The previous administration focused on the needs of activists rather than the needs of everyday investors.”
Troy Downing: Activists Tried To 'Force Companies' To Adopt Policies Dems Couldn't Pass In Congress | Uploaded September 13, 2025 | 02:56-03:02
“The SEC under the previous leadership, essentially encouraged activists to force companies to consider and adopt policy changes that Joe…”
Troy Downing: Activists Tried To 'Force Companies' To Adopt Policies Dems Couldn't Pass In Congress | Uploaded September 13, 2025 | 03:02-03:13
“In June, the D.C. district Court upheld the SEC's 2020 amendments to Rule 14A8, which set eligibility requirements for submitting…”
Troy Downing: Activists Tried To 'Force Companies' To Adopt Policies Dems Couldn't Pass In Congress | Uploaded September 13, 2025 | 03:24-03:35