Oklahoma legislation · 2026 Regular Session
Oklahoma HB4429: Securities; Proxy Advisor Transparency Act; effective date.
Status: Signed into law, May 4, 2026
What the bill says
An Act relating to proxy advisory services; enacting the Proxy Advisor Transparency Act; making findings; defining terms; imposing certain duties on proxy advisors; requiring disclosure; prescribing methods of notification; excluding certain proxy advisory services with respect to financial interest testing; prescribing requirements of financial analysis; imposing duties with respect to certain services; defining term; providing violation of requirements as a deceptive trade practice; authorizing investigatory powers to the Attorney General…
From the enrolled text, April 28, 2026:
An Act relating to proxy advisory services; enacting the Proxy Advisor Transparency Act; making findings; defining terms; imposing certain duties on proxy advisors; requiring disclosure; prescribing methods of notification; excluding certain proxy advisory services with respect to financial interest testing; prescribing requirements of financial analysis; imposing duties with respect to certain services; defining term; providing violation of requirements as a deceptive trade practice; authorizing investigatory powers to the Attorney General; authorizing civil actions for declaratory judgment and injunctive relief; defining aggrieved person; providing for effect of enactment on certain pending claims; providing for noncodification; providing for codification; and providing an effective date. SUBJECT: Proxy advisory services SECTION 1. NEW LAW A new section of law not to be codified in the Oklahoma Statutes reads as follows: This act shall be known and may be cited as the "Proxy Advisor Transparency Act". SECTION 2. NEW LAW A new section of law to be codified in the Oklahoma Statutes as Section 1001 of Title 71, unless there is created a duplication in numbering, reads as follows: The Legislature finds as follows: 1. When shareholders hire professionals to manage investments, they expect that the service will be performed in their financial interest; 2. There is a particular need for disclosures for proxy voting advice because that advice is often provided for hundreds or …