The civic record
Read. Follow. Verify.Kansas Enacts Proxy Advisor Transparency Act Requiring Disclosures for Anti-Management Recommendations
Last action · April 9, 2026: Vetoed by Governor; Returned to on Monday, April 6, 2026
Track this bill to get notified when it advances a stage. One tap to stop, anytime.
What This Bill Does
Kansas law requires y firms to disclose whether their voting recommendations against company management rely on a , and empowers the attorney general and aggrieved parties to take legal action against violators.
Investors and companies will receive explicit notice regarding whether voting advice is backed by financial valuations, and firms issuing recommendations without such analysis must publicly and directly disclose that fact.
- Proxy advisors provide voting recommendations to institutional investors and shareholders on corporate ballot items, director elections, and shareholder proposals. context
- The bill was passed over the Governor's veto to enact regulations governing proxy advisory services. context
Who It Affects
Groups the bill's text affects, as described in the record. Being affected is not a position for or against it.
Proxy advisors
Proxy advisors must comply with new disclosure requirements on their website, to clients, and to company boards when making recommendations against company management.
Shareholders
Shareholders receive mandatory disclosures regarding whether proxy advisory recommendations are backed by written financial analyses and gain the right to seek declaratory or injunctive relief for violations.
Boards of directors
Company boards must receive copies of proxy advisory recommendations and accompanying financial analyses when proxy advisors issue guidance concerning their company.
Key Facts
You don't have to trust us. Each fact below is taken straight from the official document - click any one to see the exact passage, highlighted in the original.
Frequently Asked Questions
What disclosures must a proxy advisor make if they recommend voting against management?
Who can enforce the provisions of the Proxy Advisor Transparency Act?
What else do you want to know?
News Coverage
Follow the record
Votes, people, money & the original sourceWhere This Stands
Current status: Became law over the governor's veto.
Procedural history
28 actions- Apr 9, 2026SenateVetoed by Governor; Returned to on Monday, April 6, 2026
- Apr 9, 2026SenateFloorMotion to override veto prevailed
- Apr 9, 2026HouseFloorMotion to override veto prevailed
- Mar 27, 2026SenateEnrolled and presented to Governor on Friday, March 27, 2026
- Mar 25, 2026SenateConcurred with amendments in conference
- Mar 23, 2026SenateNonconcurred with amendments; Conference Committee requested; appointed , and
Show 22 earlier actions
- Mar 23, 2026HouseFloorMotion to accede adopted; Representative Hoheisel, Representative Stiens, Representative Xu, , appointed as conferees
- Mar 18, 2026HouseCommittee of the Whole - Now working on
- Mar 18, 2026HouseFloorCommittee of the Whole - Committee Report be adopted
- Mar 18, 2026HouseFloorCommittee of the Whole - Be passed as amended
- Mar 18, 2026HouseFloorMotion to advance to Emergency Final Action adopted
- Mar 18, 2026HouseFloorEmergency Final Action - Passed as amended
- Mar 10, 2026HouseFloorCommittee Report recommending bill be passed as amended by
- Mar 4, 2026HouseHearing: Wednesday, March 4, 2026, 9:00 AM — Room 582-N
- Feb 24, 2026HouseIntroducedReceived and Introduced
- Feb 24, 2026HouseCommitteeReferred to House Committee on Financial Institutions and Pensions
- Feb 18, 2026SenateCommittee of the Whole - Now working on
- Feb 18, 2026SenateCommittee of the Whole - Motion to Amend - Offered by
- Feb 18, 2026SenateFloorCommittee of the Whole - Amendment by was adopted
- Feb 18, 2026SenateCommittee of the Whole - Motion to Amend - Offered by
- Feb 18, 2026SenateFloorCommittee of the Whole - Amendment by was adopted
- Feb 18, 2026SenateFloorCommittee of the Whole - Be passed as amended
- Feb 18, 2026Senatefa_fabc_912
- Feb 18, 2026SenateFloorEmergency Final Action - Passed as amended
- Feb 17, 2026SenateFloorCommittee Report recommending bill be passed by
- Feb 10, 2026SenateHearing: Tuesday, February 10, 2026, 10:30 AM — Room 346-S
- Jan 23, 2026SenateCommitteeReferred to Senate Committee on Judiciary
- Jan 22, 2026SenateIntroducedIntroduced
Version history
Only one version on file - nothing to compare yet. As later stages (committee substitute, engrossed, enrolled) are captured, the redline appears here.
View official text →Lobbying Activity
No state lobbying filings in our records match this bill. Federal lobbying reports (LDA) cover Congress, so they are not listed on state bills.
Full breakdown
Who this bill affects and the strongest case for and against it, written only from the bill’s own text.
Discoveries
Patterns POLISCOPE noticed across the record. These are observations to investigate, not conclusions.
State-Level Regulation of Proxy Advisors
Kansas establishes direct consumer protection enforcement and private injunctive rights over proxy advisory voting recommendations.
Connected Entities
Sources
www.kslegislature.gov
Analysis Score
0–100- Significance75How much this matters to a regular citizen
- Controversy65Intensity of disagreement among stakeholders
- Entertainment10Compellingness for a non-policy-wonk reader
- Buzz40Current news / social attention level
Publisher tools