The Harvard Law School Forum on Corporate Governance https://corpgov.law.harvard.edu The leading online blog in the fields of corporate governance and financial regulation. Wed, 19 Aug 2026 11:32:32 +0000 en-US hourly 1 https://wordpress.org/?v=6.5.10 https://corpgov.law.harvard.edu/wp-content/uploads/2024/02/cropped-photography-4-e1706898544564-1-32x32.png DOJ Withdraws Antitrust Guidance for Proxy Advisory Industry – The Harvard Law School Forum on Corporate Governance https://corpgov.law.harvard.edu 32 32 DOJ Withdraws Antitrust Guidance for Proxy Advisory Industry https://corpgov.law.harvard.edu/2026/08/19/doj-withdraws-antitrust-guidance-for-proxy-advisory-industry/?utm_source=rss&utm_medium=rss&utm_campaign=doj-withdraws-antitrust-guidance-for-proxy-advisory-industry https://corpgov.law.harvard.edu/2026/08/19/doj-withdraws-antitrust-guidance-for-proxy-advisory-industry/#respond Wed, 19 Aug 2026 11:30:26 +0000 https://corpgov.law.harvard.edu/?p=183353?d=20260818164954EDT Posted by Craig Waldman, Randi Lesnick, and Ferrell Keel, Jones Day, on Wednesday, August 19, 2026
Editor's Note:

Craig Waldman is a Co-Chair of the Antitrust & Competition Law practice and Chair of the Tech practice, Randi Lesnick is a Co-Chair of the Corporate practice, and Ferrell Keel is a Partner at Jones Day. This post is based on a Jones Day memorandum by Mr. Waldman, Ms. Lesnick, Ms. Keel,  Andrew Levine, and Mark Rasmussen, all at Jones Day.

The DOJ has withdrawn the 1987 BRL issued to ISS, the largest U.S. proxy advisor. The withdrawal follows state-level efforts to regulate the proxy advisory industry, a November 2025 antitrust lawsuit by the Florida Attorney General, and President Trump’s December 2025 executive order on proxy advisory firms.

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