Proxy Advisor Transparency Act; enact.

SB 2676, the Proxy Advisor Transparency Act, requires proxy advisors (firms that advise shareholders on voting) to disclose whether their voting recommendations are based on a written financial analysis that considers how the vote affects investment value. This directly affects shareholders, especially institutional investors managing retirement funds, and proxy advisors like Glass Lewis. The law mandates clear disclosures to clients when recommendations against company management (e.g., on ESG or DEI proposals) lack financial analysis, and requires advisors to notify companies of their recommendations so companies can share additional context. Violations are treated as deceptive trade practices under Mississippi law.