SEC Proposes to Combat ESG Greenwashing, Hester Pierce Opposes -Breaking
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SEC Proposes to Counter ESG Greenwashing. Hester Poirier Opposes- New rules were proposed by the US Securities and Exchange Commission regarding ESG strategies and methods.
- SEC voted to instruct RIA’s touting ESG strategies to provide more rigorous Form ADV disclosures.
- Commissioner Hester Pierce argues the US ‘dropped the ball’ on crypto regulation.
The US Securities and Exchange Commission (SEC) proposed new federal rules on environmental, social, and governance (ESG) disclosure obligations to “separate the wheat from the chaff” in an attempt to combat the malpractice of ‘greenwashing’
Yesterday’s vote by the SEC panel was 3-1 in favor. Only one voter was against this rule, Commissioner Hester P. Pierce. The system was changed to require that registered investment advisors (RIAs) and funds provide detailed information on ESG strategy and method in annual reports, prospectuses and disclosure documents, such as Form ADVs.
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