LA HB830

Requires proxy advisors who recommend voting against company management on proposals without a written financial analysis to disclose this fact to shareholders, company boards, and on their website homepage

Requires proxy advisors who base recommendations against management on a written financial analysis to disclose this fact, make the analysis available upon request, and provide copies to company boards

Defines "written financial analysis" as a document analyzing short-term and long-term financial costs/benefits of a proposal, concluding what action best affects shareholder value, and explaining methods used including personnel experience and location

Classifies violations as unfair and deceptive trade practices under Louisiana's Unfair Trade Practices and Consumer Protection Law, with enforcement authority given to the attorney general

Allows aggrieved parties (proxy service recipients, subject companies, and shareholders) to bring private actions for declaratory judgment or injunctive relief, with 7-day notice requirement to the attorney general who may intervene

Effective January 1, 2027, applying prospectively