SOURCE: The Corporate Library

September 10, 2008 14:25 ET

The Corporate Library Expands Independent Proxy Vote Audit and Compliance Services

PORTLAND, ME--(Marketwire - September 10, 2008) - The Corporate Library, now in its tenth year as a fully independent corporate governance research and advisory service, is expanding its offering of Proxy Vote Audit and Compliance Services. The services, targeted to help mutual fund and investment managers and launched in 2006, provide compliance officers and fund managers with an independent, external solution to help meet their SEC compliance needs.

The communication of the Proxy Vote Audit and Compliance Services was prompted by the Securities and Exchange Commission's (SEC) July ComplianceAlert, which identified specific risk areas that mutual funds face in their compliance with SEC regulations. The Corporate Library's services address the SEC's key issues of concern, particularly inaccuracies, inconsistencies with fund voting guidelines, and incomplete or hard-to-follow audit trails. The SEC ComplianceAlert identified that there is a continued need for independent audits and advisory services.

Proxy Vote Audit and Compliance Services from The Corporate Library assist its clients to:

--  Identify and help minimize fund vote disclosure or execution
    inaccuracies;
--  Perform the due diligence necessary to ensure their shares are voted
    in alignment with fund policies; and
--  Create an independently-generated audit trail to support the
    validation that the fund's shares are being voted in alignment and
    compliance with the fund's guidelines.
    

The Corporate Library is uniquely positioned to provide mutual funds with independent third-party audit and analysis of proxy voting-related activities. The company is neither a proxy advisor nor an investor, and it does not provide consulting services to any of the public firms covered by its research and corporate governance ratings.

For additional information on how The Corporate Library can help you meet your vote compliance needs and help you develop aligned voting guidelines, please contact Drew Buckley at dbuckley@thecorporatelibrary.com or 207-553-5666 and ask about the Proxy Vote Audit and Compliance Services.

About The Corporate Library

Now celebrating its tenth year, The Corporate Library is an independent research firm focused on the U.S. and Canadian public market which offers corporate governance information products, research services and data products. It produces the definitive ratings of U.S. corporate boards of directors, allowing businesses that subscribe to the service to evaluate governance as an element of investment and other risk. Additional information can be found at www.thecorporatelibrary.com.

Contact Information

  • Contact:
    Cheri Grimmett
    Media Relations
    The Corporate Library
    Email Contact
    207 553-5604