(Reuters) -A top Glass Lewis executive said the firm may register itself as a U.S. investment adviser, which would subject it to more regulation but potentially assuage criticism from corporate executives and Republican politicians over its proxy voting recommendations.

"We're seriously considering registration as an investment adviser" with the Securities and Exchange Commission in Washington, Glass Lewis Chief Strategy Officer Cheryl Gustitus told Reuters in an interview on Friday.

Gustitus did not give a timeline on when the company, owned by Canada's Peloton Capital Management and its Chairman Stephen Smith, might make a decision. But she said that the matter should be seen in conjunction with other steps Glass Lewis has taken to recast the influential role it plays in U.S. corporate governance under Chief Executive Bob Mann, who took over last year.

For instance, last month Glass Lewis said it will end its "benchmark" proxy voting recommendations in 2027, and Gustitus said clients will be able to choose among various approaches for its research. 

"We're trying to evolve, we're not digging in," Gustitus said.

Glass Lewis and its larger rival Institutional Shareholder Services have faced Republican criticism and investigations over their recommendations on how big institutional investors should vote at corporate annual meetings on matters like executive pay or climate issues.

This year, both firms backed fewer shareholder resolutions on environmental matters as companies ramped up climate disclosures.

ISS has been a registered investment adviser with the SEC for about 25 years, giving the Wall Street regulator the power to review things like how the company manages potential conflicts of interest.

Glass Lewis was previously registered with the agency but withdrew the status in 2005, saying it was inappropriate because among other things the firm did not recommend clients trade, purchase, sell or hold securities.