OK SB568

Requires all shares and ownership interests held by governmental entities to be voted solely in the pecuniary interest of plan participants and their beneficiaries.

Prohibits investment managers, fiduciaries, and governmental entities from following proxy adviser recommendations unless the adviser has a written commitment to follow voting guidelines based solely on pecuniary factors.

Prohibits governmental entities from granting proxy voting authority to external parties unless they have a written commitment to follow pecuniary-based voting guidelines.

Requires annual tabulation and reporting of all proxy votes to the State Treasurer, including vote captions, plan votes, company management recommendations, and proxy adviser recommendations posted on a public webpage.

Defines "governmental entity" as any state agency, board, bureau, commission, or executive department entity, and becomes effective July 1, 2025, with an emergency clause.