Proxy Advisers Glass Lewis, ISS Probed by US Antitrust Regulator

The Federal Trade Commission is investigating whether proxy advisory firms Institutional Shareholder Services Inc. and Glass Lewis & Co. breached US antitrust laws by guiding shareholders on how to vote on politically charged topics, according to people familiar with the matter.

The probe is in its early stages, according to people familiar with the matter, who asked not to be identified because the investigation isn’t public.

“Glass Lewis has always conducted its business in a fair, ethical lawful manner,” a spokesperson for Glass Lewis said in a statement.

A representative for ISS declined to comment.

Republicans have been targeting Glass ...