North Carolina legislation · 2025-2026 Session
North Carolina S1057: Required Disclosures/Proxy Advisory Services.
Status: In committee, June 29, 2026
What the bill says
An act to require proxy advisory services to make certain disclosures.
From the introduced text:
A BILL TO BE ENTITLED AN ACT TO REQUIRE PROXY ADVISORY SERVICES TO MAKE CERTAIN DISCLOSURES. The General Assembly of North Carolina enacts: SECTION 1. Legislative Findings. - The General Assembly finds the following: (1) When shareholders hire professionals to manage investments, they reasonably expect those professionals to perform services in the financial interest of the shareholders and to make recommendations that will enhance investment value based on financial analyses. (2) There is a particular need to require disclosures from proxy advisors because their advice is provided for hundreds of thousands of shareholder votes each year. Few investors have the resources to independently research every shareholder vote. Institutional investors often use proxy advisors for guidance on how to exercise their shareholder voting rights in a manner consistent with their fiduciary duties. (3) Directors of publicly held companies also have fiduciary duties to their shareholders and make recommendations in line with those fiduciary duties. (4) Proxy advisors have recommended votes against company directors' guidance and in favor of shareholder proposals based on environmental, social, or governance (ESG) issues; diversity, equity, or inclusion (DEI) issues; and social credit and sustainability scores but have not disclosed to investors that the recommendations were made without conducting a financial analysis to determine how the recommended votes would affect shareholder value. (5) The chief operating officer …
Sponsors
- Craven, David W. (R, 29) · primary sponsor
- Newton, Buck (R, 4) · primary sponsor
- Overcash, Brad (R, 43) · primary sponsor
- Moffitt, Timothy D. (R, 48)
Latest actions
- : Ref To Com On Rules, Calendar, and Operations of the House
- : Passed 1st Reading
- : Regular Message Received From Senate
- : Regular Message Sent To House
- : Passed 3rd Reading
- : Passed 2nd Reading
- : Reptd Fav
- : Re-ref Com On Rules and Operations of the Senate
- : Reptd Fav
- : Re-ref Com On Judiciary
Votes
- Required Disclosures/Proxy Advisory Services. Second Reading (June 24, 2026): 29 yea, 13 nay, passed
Subjects: SECURITIES, INVESTMENTS, COMMERCE, PUBLIC, FRAUD, CORPORATIONS, FOR-PROFIT, CRIMES
Common questions
- What is S1057?
- S1057 is a bill in the North Carolina Legislature (2025-2026 Session): Required Disclosures/Proxy Advisory Services.
- What does S1057 do?
- In its own words: An act to require proxy advisory services to make certain disclosures.
- What is the status of S1057?
- In committee as of June 29, 2026. Latest action: Ref To Com On Rules, Calendar, and Operations of the House (June 29, 2026).
- Who sponsored S1057?
- Craven, David W. (R, 29), with 3 co-sponsors.
- Where is the official record for S1057?
- On the North Carolina Legislature website: https://www.ncleg.gov/BillLookUp/2025/S1057
Source: official North Carolina record. Tracked by Delilah, AI for legislation across all 50 states and Congress.