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News Summary: Shareholder adviser firm in SEC deal

The Associated Press

SETTLED WITH SEC: Institutional Shareholder Services, a prominent firm that advises big shareholders on how to vote in elections for company directors is paying a $300,000 fine to settle federal charges of failing to protect clients' confidential voting information.

LEAKED DATA: The Securities and Exchange Commission said a former ISS employee gave a vote-gathering firm information on how more than 100 ISS clients planned to vote. In exchange, the firm gave the employee about $11,500 in tickets to concerts and sporting events, along with meals and an airline ticket.

BIG PROXY CONTESTS: The SEC said the breaches of confidential information occurred from 2007 to 2012 and involved ISS clients that participated in a number of significant proxy contests, or battles for control of companies waged through votes for directors.