• 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.