Republican Hester Peirce says ESG disclosure mandates undermine materiality and harm investors. Democrat Caroline Crenshaw says 'consistent, comparable' ESG disclosure helps investors.
Sen. Patrick Toomey, R-Pa., the highest-ranking Republican on the Senate Banking Committee, takes aim at the Fed, SEC for 'mission creep.'
Lee said there may be a disconnect between passive index funds' proxy voting and their investors’ ESG inclinations.
The certificate focuses on analyzing ESG factors and integrating them into portfolios. It also provides ESG fluency for people working in functions such as sales and distribution, wealth management, product development, financial advice, consulting and risk.
Acting SEC Chair Allison Herren Lee suggested the agency should consider new policies and procedures regarding ESG for investment advisers. The agency is evaluating how a disclosure framework can be flexible enough to keep up with the latest market and scientific developments.
But a stock market reaching record highs may be masking shortfalls, and a recent survey says firms aren't supervising conferencing platforms.
The agency must be nimble in keeping up with an increasingly popular and rapidly evolving issue.
The vehicles are touted for democratizing markets by allowing retail investors access to high-growth companies. But the SEC said they come with distinct risks.
The panel voted 14-10 to advance Gary Gensler’s nomination to head the Securities and Exchange Commission to the Senate floor for a confirmation vote by the full chamber.
The measure has drawn strong opposition from financial industry trade associations. In a March 4 letter to House leaders, 14 groups warned that the bill 'would cause significant disruption to the independent financial services and property casualty insurance industries and the customers we serve.'
