Requirements for proxy advisors.

Summary

The bill requires proxy advisors who recommend voting against a company’s management, or use default policies to do so, to clearly state when those recommendations are not based on a written financial analysis. The disclosures must be given to each interest holder, to the entity’s management, and displayed on the advisor’s website. The goal is to give shareholders more transparency about the basis of voting advice.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

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