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SC H4985
Bill
Status
Introduced
1/20/2026
Primary Sponsor
Brandon Newton
Click for details
AI Summary
- Requires proxy advisors to disclose when they recommend voting against company management without basing that recommendation on a written financial analysis of short-term and long-term costs and benefits to shareholders
- Mandates that proxy advisors who do rely on written financial analyses must disclose this fact, provide the analysis to company boards, and make it available to service recipients upon request
- Defines "written financial analysis" as requiring analysis of financial impacts, conclusions on shareholder value, and explanation of methods including personnel experience and geographic location
- Classifies violations as deceptive trade practices under South Carolina law, granting the Attorney General investigative and enforcement powers
- Creates a private right of action for aggrieved parties including shareholders, companies, and proxy service recipients to seek declaratory judgment or injunctive relief, with mandatory 7-day notice to the Attorney General
Legislative Description
Proxy Advisory Transparency Act
Last Action
Member(s) request name added as sponsor: M.M.Smith
2/11/2026
Committee Referrals
Labor, Commerce and Industry1/20/2026
Full Bill Text
No bill text available