Loading chat...
KS SB375
Bill
Status
2/24/2026
Primary Sponsor
Judiciary
Click for details
AI Summary
-
Proxy advisors recommending votes against company management on shareholder proposals must disclose whether their recommendation is based on a written financial analysis evaluating the impact on shareholder value.
-
When no written financial analysis supports the recommendation, proxy advisors must notify shareholders, the company's board of directors, and post a conspicuous disclosure on their website homepage.
-
When a written financial analysis does support the recommendation, proxy advisors must make the analysis available to clients upon request and provide a copy to the company's board of directors.
-
Violations constitute deceptive and unconscionable practices under the Kansas Consumer Protection Act, with the Attorney General authorized to investigate and take enforcement actions.
-
The Senate Committee of the Whole amendment removed a private right of action provision, limiting enforcement to the Attorney General rather than allowing private parties to sue for declaratory judgment or injunctive relief.
Legislative Description
Enacting the proxy advisor transparency act, requiring proxy advisors to make certain disclosures when recommending an action against company management, authorizing the attorney general to investigate and take enforcement actions against violators and establishing a private right of action for a declaratory judgment or injunctive relief.
Last Action
House Committee Report recommending bill be passed as amended by Committee on Financial Institutions and Pensions
3/10/2026