HB2476 amends Tennessee's investment laws to clarify fiduciary voting responsibilities and prohibit conflicts of interest for proxy advisory firms.

HB2476 amends Tennessee's investment laws to clarify fiduciary voting responsibilities and prohibit conflicts of interest for proxy advisory firms. The bill mandates that fiduciaries vote shares for financial reasons, maximizing long-term shareholder value. It requires fiduciaries to conduct economic analyses to justify votes and prohibits voting that subordinates financial interests to environmental, social, and governance concerns.

HB2476 amends Tennessee's investment laws to clarify fiduciary voting responsibilities and prohibit conflicts of interest for proxy advisory firms.

HB2476 amends Tennessee's investment laws to clarify fiduciary voting responsibilities and prohibit conflicts of interest for proxy advisory firms. The bill mandates that fiduciaries vote shares for financial reasons, maximizing long-term shareholder value. It requires fiduciaries to conduct economic analyses to justify votes and prohibits voting that subordinates financial interests to environmental, social, and governance concerns.