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- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Aaron Nicodemus2023-05-02T20:34:00
At a speech before a European financial services think tank, a Republican commissioner with the Securities and Exchange Commission (SEC) threw cold water on regulators’ attempts to create environmental, social, and governance (ESG) standards for public companies.
Speaking Friday in Sweden before EuroFi, Hester Peirce argued materiality-based standards—not ESG standards—best suit investors’ needs.
Peirce said ESG-specific standards “cannot help but direct the allocation of private capital, especially when they are combined with sustainable finance initiatives designed to encourage financing of favored activities and the defunding of disfavored activities.” This redirection of capital is not, she argued, meant to primarily serve investors’ needs “but rather to direct the allocation of private capital to further government ends.”
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News and analysis for the well-informed compliance or audit exec.
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2023-09-20T20:01:00Z By Kyle Brasseur
The Securities and Exchange Commission adopted amendments to its rule covering fund names to ensure the regulation is appropriate to address new investment drivers, namely environmental, social, and governance matters.
2023-09-13T20:29:00Z By Aaron Nicodemus
Gary Gensler, despite being put on the spot by a member of Congress, declined to provide an update on when the Securities and Exchange Commission might approve its climate-related disclosure rule for public companies.
2023-06-27T23:42:00Z By Jeff Dale
The Treasury Department’s Federal Insurance Office issued a report on gaps in how states supervise and assess climate-related risks among insurers.
2024-07-24T15:50:00Z By Aaron Nicodemus
Financial institutions holding Russian sovereign assets that have not reported them to the Treasury Department’s Office of Foreign Assets Control are now required to do so by Aug. 2.
2024-07-23T12:29:00Z By Ruth Prickett
Compliance officers should take note of proposed laws in the U.K. with the newly elected Labor government setting the legislative agenda in the King’s Speech last week, promising consultations on enhanced employee rights and a higher minimum wage.
2024-07-22T15:50:00Z By Aaron Nicodemus
Four federal banking regulators have joined the Treasury Department’s Financial Crimes Enforcement Network in issuing a notice of proposed rulemaking that would require financial institutions to conduct more thorough risk assessments on their anti-money laundering/countering the financing of terrorism programs.
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