A bank settled parallel SEC and Federal Reserve Board charges for (i) extending lines of credit to affiliates of the bank's CEO without the majority approval of its board, (ii) failing to disclose related party loans in annual reports and proxy statements, and (iii) issuing materially misleading statements.
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Senate Republicans requested information on the SEC's proposed climate disclosure rule. The proposed rule would require publicly traded companies to include climate-related risk disclosures in financial documents and report global warming data.
SIFMA asserted that the SEC lacks the authority to enact proposed regulation requiring additional disclosure for special-purpose acquisition companies.
In remarks before the SEC Investor Advisory Committee, SEC Chair Gary Gensler and SEC Commissioner Hester M. Peirce squared off on climate-related risk disclosure policy, accounting for non-traditional financial information and investor protections.
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."