On May 1, 2026, OKL LEG reported bill approval by governor.
On Apr. 28, OKL LEG passed bill related to proxy advisor transparency.
OKL LEG passed HB 4429, add sections 1001-1005 to OKL FIN 71, establish Proxy advisor transparency act; disclosure, notification requirements on proxy advisory firms
Bill Provisions
If a proxy advisor makes a recommendation against company management on a company or proxy proposal, concurrently with providing the proxy advisory service.
Include conspicuous disclosure to each shareholder that identifies service provided, recommendation or policy at issue, states proxy advisor made recommendation, policy.
Without doing based on written financial analysis on impact of recommended action.
Concurrently with providing the proxy advisory service, send by electronic means and US mail copy of disclosure to board of directors of each company subject of service.
Publicly, conspicuously disclose on home page of proxy advisor website statement advisory services include services that include recommendations or policies.
Against company management on company proposals or proxy proposals not made based on written financial analysis on impact of recommended action on co investors.
Legislative History
On Feb. 2, 2026, bill was introduced in House; on Mar. 25, 2026, bill passed House.
On Mar. 26, 2026, bill was introduced in Senate; on Apr. 28, 2026, bill passed Senate.
Effectiveness
Act will become effective Nov. 1, 2026.
May 2026 OKL LEG Governor Approval
On May 1, 2026, OKL LEG reported bill approval by governor.
Regulators
OKL LEG
Entity Types
Corp
Reference
Act, 5/1/2026; Bill, HB4429, 4/28/2026; Citation: OKL FIN 71;
