The Securities and Exchange Commission’s (SEC) has been slammed with comments from supporters and critics of its proposed climate disclosure rule.
The release of the final rule has been continually delayed, but its publication is anticipated in the next few months. Congressional Democrats are urging for it to be done sooner rather than later.
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U.S. Congressman and Homeland Security Chairman Mark Green (R-TN-07)Â signed a letter this week urging the Securities and Exchange Commission (SEC) to rethink a new rule on cybersecurity for public companies.
According to the new SEC rule, effective Tuesday, publicly traded corporations must alert the SEC of a cyberattack within four days of the event. A company’s strategies and procedures for managing cybersecurity risk must also be disclosed on a regular basis, among other requirements.
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One day before Joe Biden heads to a Saturday Philadelphia rally, U.S. Representatives Guy Reschenthaler (R-PA-14) and Dan Meuser (R-PA-9) excoriated him in a press call over quality of life issues.Â
Joined by Pennsylvania GOP Chairman Lawrence Tabas, the two lawmakers blasted the president for seeking reelection in 2024, insisting Biden has made life worse for Americans on virtually every facet affected by public policy. They mentioned that inflation rages, real wages slump, energy production languishes, gas prices rise, fentanyl use spreads, reading and math scores tumble and crime swells.Â
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The U.S. House Committee on Financial Services held its first hearing investigating the collapse of FTX on Tuesday.
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A coalition of 16 Republican governors sent a letter Tuesday to President Joe Biden, urging him to rescind a proposal introducing a series of climate requirements for companies.
The recent Securities and Exchange Commission (SEC) proposal, which forces publicly-traded companies to share so-called climate change risks and greenhouse gas emissions, would harm businesses and investors by adding high compliance costs, the governors argued in the letter addressed to both Biden and SEC Chairman Gary Gensler. The climate disclosure rule, they added, would also represent an overstepping of the SEC’s authority.
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America’s top financial regulator issued climate disclosure rules that are more burdensome for smaller companies than large companies, according to the agency’s own analysis.
While the rules would cost large corporations $640,000 at first and $530,000 in subsequent years, they would cost smaller publicly-traded companies $490,000 initially and $420,000 in following years, the Securities and Exchange Commission (SEC) said in its proposal. The regulator’s analysis suggests that smaller companies would feel a relatively larger financial burden as a result of the proposed disclosure rules.
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The top U.S. financial regulatory agency approved a rule that forces publicly-traded companies to reveal the diversity of their executive boardroom to investors.
The Securities and Exchange Commission (SEC) voted in favor of the rule, which will apply to all companies traded on the Nasdaq stock exchange, according to the text of the approval released Friday. The rule, first proposed by Nasdaq in December, will also require companies to hire at least one female director and one either minority or LGBTQ+ director to their boards.
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