Republican lawmakers in the House tell the new SEC chairman to avoid ‘mission creep’ in the agency's oversight of environmental, social and governance disclosures.
The measure, written by Democratic lawmakers, will have a hard time finding Republican votes. But it does send a signal of support to the SEC for tougher ESG oversight.
The Securities Industry and Financial Markets Association opposes the bill, saying arbitration 'promotes fair, efficient, and economical dispute resolution for all parties.'
Meanwhile, Massachusetts amended its December complaint against the online brokerage seeking to revoke its registration in the state.
His slim Senate confirmation margin reflects GOP concerns about the aggressive approach Gensler has signaled on issues like expanding corporate disclosures related to environmental, social and governance factors.
Democracy is a systemic issue that's difficult to link to a particular company. But firms take hits by jumping into fights over specific bills.
In a set of frequently asked questions, the agency said a recommendation to rollover retirement funds from a company plan to an individual retirement account can be part of an ongoing client-adviser relationship and trigger a fiduciary standard of care.
The agency’s role is not to determine whether any particular strategy is a good one, but to ensure investors know what they are getting, according to Securities and Exchange Commission member Hester Peirce.
The risk alert is the latest step the SEC has taken to emphasize ESG oversight. In recent weeks, it has formed an enforcement task force and released a request for public comment on ESG and climate-risk disclosures.
Assessing the murky family-office world presents challenges, such as sorting out the different types. The SEC had targeted family office oversight for review this year even before the Archegos blowup.
