OECD reports that the increasing influence of proxy advisors, ESG rating and data providers, and index providers in corporate governance requires stronger transparency and conflict-of-interest safeguards across capital markets

The report reviews regulatory approaches across 50 jurisdictions and identifies significant variation in oversight frameworks governing methodology disclosure, governance standards, and management of commercial conflicts. OECD also highlights concerns around market concentration and the expanding role of these providers in shaping investment flows and shareholder voting outcomes, recommending balanced regulatory reforms that preserve competition and market access.