Plain English Breakdown
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H4985 • 2026
A BILL TO AMEND THE SOUTH CAROLINA CODE OF LAWS BY ENACTING THE "PROXY ADVISOR TRANSPARENCY ACT" BY ADDING ARTICLE 9 TO CHAPTER 5, TITLE 39 SO AS TO REQUIRE PROXY ADVISORS TO ISSUE SPECIFIED DISCLOSURES WHEN MAKING CERTAIN RECOMMENDATIONS WITHOUT RELYING ON A WRITTEN FINANCIAL ANALYSIS; AND TO PROVIDE THAT A VIOLATION OF THIS ARTICLE IS A DECEPTIVE TRADE PRACTICE SUBJECT TO THE INVESTIGATORY AND ENFORCEMENT POWERS OF THE ATTORNEY GENERAL, AS WELL AS A PRIVATE RIGHT OF ACTION BY ANY AGGRIEVED PERSON.
A BILL TO AMEND THE SOUTH CAROLINA CODE OF LAWS BY ENACTING THE "PROXY ADVISOR TRANSPARENCY ACT" BY ADDING ARTICLE 9 TO CHAPTER 5, TITLE 39 SO AS TO REQUIRE PROXY ADVISORS TO ISSUE SPECIFIED DISCLOSURES WHEN MAKING CERTAIN RECOMMENDATIONS WITHOUT RELYING ON A WRITTEN FINANCIAL ANALYSIS; AND TO PROVIDE THAT A VIOLATION OF THIS ARTICLE IS A DECEPTIVE TRADE PRACTICE SUBJECT TO THE INVESTIGATORY AND ENFORCEMENT POWERS OF THE ATTORNEY GENERAL, AS WELL AS A PRIVATE RIGHT OF ACTION BY ANY AGGRIEVED PERSON.
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Bill History
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Official Summary Text
A BILL TO AMEND THE SOUTH CAROLINA CODE OF LAWS BY ENACTING THE "PROXY ADVISOR TRANSPARENCY ACT" BY ADDING ARTICLE 9 TO CHAPTER 5, TITLE 39 SO AS TO REQUIRE PROXY ADVISORS TO ISSUE SPECIFIED DISCLOSURES WHEN MAKING CERTAIN RECOMMENDATIONS WITHOUT RELYING ON A WRITTEN FINANCIAL ANALYSIS; AND TO PROVIDE THAT A VIOLATION OF THIS ARTICLE IS A DECEPTIVE TRADE PRACTICE SUBJECT TO THE INVESTIGATORY AND ENFORCEMENT POWERS OF THE ATTORNEY GENERAL, AS WELL AS A PRIVATE RIGHT OF ACTION BY ANY AGGRIEVED PERSON.