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WV SB417
Bill
Status
Introduced
1/15/2026
Primary Sponsor
Patricia Rucker
Click for details
AI Summary
- Creates the Proxy Advisor Transparency Act requiring proxy advisors to disclose whether their voting recommendations against company management are based on written financial analyses of shareholder value impact
- Mandates that when proxy advisors recommend votes against management without financial analysis, they must provide clear disclosures to shareholders, company boards, and on their website homepage
- Requires proxy advisors who do conduct written financial analyses to make those analyses available to clients upon request and provide copies to affected company boards
- Classifies violations as deceptive trade practices under West Virginia consumer protection law, enforceable by the Attorney General with investigative powers
- Allows private lawsuits for declaratory judgment or injunctive relief by proxy advisory service recipients, affected companies, and shareholders, with effective date of July 1, 2026
Legislative Description
Proxy Advisor Transparency Act
Corporations
Last Action
To Banking and Insurance
1/15/2026
Committee Referrals
Banking and Insurance1/15/2026
Full Bill Text
No bill text available