Representatives Juan Vargas (D-CA) and co-sponsor Jesús G. Garcia (D-IL) introduced legislation that would update environmental, social and governance disclosure requirements for public companies.
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In testimony before the U.S. Senate Banking Committee, SEC Chair Gary Gensler weighed in on market structure, predictive data analytics, issuers and issuer disclosure, and funds and investment management.
Early reaction to the SEC’s proposed disclosure rule on climate risk suggests significant disagreement among government officials and trade groups.
House Financial Services Committee Chair Maxine Waters and Senate Banking Committee Chair Sherrod Brown called on the SEC "to require the disclosure of standardized data of race, ethnicity, gender, sexual orientation, and disability status."
In a letter to SEC Chair Gary Gensler, Republican leaders from the House Financial Services Committee and Senate Banking Committee criticized the SEC for pursuing a climate agenda "outside the scope of its mission" and requested information on the proposed climate disclosure rule.