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- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Aaron Nicodemus2023-02-03T17:08:00
The Securities and Exchange Commission (SEC) is reportedly considering pulling back on key elements of its climate-related disclosure rule following pushback from investors, companies, and the public.
The SEC is still planning to finalize its sweeping mandate this year requiring public companies issue climate-related disclosures in their financial statements. Those disclosures would attempt to quantify the costs to their business caused by climate-related events like floods, fires, and drought as well the effect of environmental regulations on their bottom line. The regulator is also eyeing public companies disclose greenhouse gas (GHG) emissions their business generates.
Among changes being considered, according to a report from the Wall Street Journal on Friday, is easing of one of the more controversial details of the proposed rule: the bright-line test that if climate-related costs and risks affect more than 1 percent of a line item in a financial report, those costs and risks must be disclosed.
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News and analysis for the well-informed compliance or audit exec. Select an option and click continue.
Annual Membership $499 Value offer
Full price one year membership with auto-renewal.
Membership $599
One-year only, no auto-renewal.
2023-05-02T20:34:00Z By Aaron Nicodemus
Hester Peirce of the Securities and Exchange Commission argued materiality-based standards—not environmental, social, and governance standards—best suit investors’ needs during a recent speech.
2023-03-15T15:26:00Z By Maria L. Murphy
Companies are working on plans to reduce their carbon emissions. The popularity of environmental credits has grown as a way for companies to meet their emission reduction targets.
2023-03-07T16:08:00Z By Kyle Brasseur
Smaller reporting companies should, by default, have delayed compliance dates of at least one year on any new disclosure rule, SEC Commissioner Mark Uyeda said in a recent speech.
2024-10-22T14:37:00Z By Aaron Nicodemus
The Department of Justice (DOJ) has proposed a new rule that would regulate the use of Americans’ personal information by foreign companies and foreign persons in six “countries of concern,” prohibiting and restricting the sale of data to thwart the use of data for cyber-enabled activities, espionage, coercion, influence and ...
2024-10-17T17:42:00Z By Adrianne Appel
New York financial institutions are expected to address cybersecurity risks posed by artificial intelligence (AI), and new guidance from the New York Department of Financial Services is aimed at helping firms do just that.
2024-10-17T16:22:00Z By Neil Hodge
Concerns about how robustly European member states may enforce the EU AI Act, which took effect on Aug. 1, are divided between if regulators will take a “light touch” approach or a sledgehammer for noncompliance. One thing’s for sure, the pace of AI innovation will make enforcement very difficult.
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