Other popular shareholder proposals are expected to include proposals that address independent board chairs, majority voting, board diversity and various other social, environmental and political proposals. The SEC recently issued additional guidance on certain issues under Rule 14a-8, including guidance that may expand the bases companies may use to exclude proposals, but also may change companies' processes in building their cases for exclusion. Please see " Staff Issues New Guidance on Excluding Shareholder Proposals " below. ISS Proxy Voting Policies Recently, ISS released its revised policy voting guidelines for 2018. The updates are effective for meetings on or after February 1, 2018. Topics covered include updates on: ISS also updated its policy on certain shareholder proposals, including gender pay gap, board diversity and climate change. Previously, ISS issued its 2018 policy survey.