In a report on climate-related financial risk, the Financial Stability Oversight Council identified climate change as an emerging and increasing threat to U.S. financial stability.
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.
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.
The SEC reopened the comment period for a proposal that would establish listing standards for clawback policies of erroneously awarded compensation. Comments are now due by July 14, 2022. The notice was published in the Federal Register.