SOX News

The Corporate Library Expands Independent Proxy Vote Audit and Compliance Services

(Sept 11, 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.  Additional information can be found at www.thecorporatelibrary.com.

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