Michelle Edkins from BlackRock at around minute 59 noted that BlackRock retained ISS not only for advice but for other services as well. Some of these services arose out of the "operating environment." She described the voting environment as "highly complex, terribly inefficient" and "prone to error."
The Proxy Plumbing Release sought to address some of these concerns. Yet other than the concern over proxy advisory firms, nothing significant has come out of the plumbing release. Perhaps this ought to be the topic of the next roundtable.
The webcast of the Roundtable is here.