LB728

Nebraska LB728 mandates proxy advisors to disclose if financial analysis was used for proxy services.

Nebraska LB728 requires proxy advisors to disclose whether a written financial analysis was used for proxy services. If a proxy advisor recommends against company management on a company proposal or proxy proposal, they must disclose if the recommendation is based on a written financial analysis. The disclosure must identify the service, the recommendation, and explain the methods and processes used to prepare the analysis. Violations are considered deceptive trade practices, subject to remedies under the Uniform Deceptive Trade Practices Act.