In preparation for the 2016 proxy season, proxy advisors Institutional Shareholder Services (ISS) and Glass Lewis & Co. have released their final policy changes for next year. ISS’s updates take effect for annual meetings held on or after Feb. 1, 2016, while Glass Lewis’s will apply to annual meetings on or after Jan. 1, 2016.This article provides an in-depth review of the proxy advisors’ key policy changes for 2016 and their potential implications for issuers. Alliance Advisors will issue reviews of additional policy updates from the proxy advisors as they become available.