U.S. markets regulator creates task force to target climate, ESG fraud By Reuters

0
54

© Reuters.

By Chris Prentice

WASHINGTON (Reuters) – The U.S. Securities and Exchange Commission has formed an enforcement task force to examine misconduct related to environmental, social and governance issues as the regulator ramps up a focus on climate and other hot-button topics.

The SEC has deployed a 22-person team that will focus on disclosures from public companies related to issues such as climate change, investment-advisor activities and funds dedicated to ESG investments, the agency said on Thursday.

This is the latest in a series of SEC initiatives in recent weeks under President Joe Biden, who has made climate a key focus of his administration. The agency has also launched an effort to update guidance for public companies on how they share information with investors on climate risk and made the topic a priority for 2021 examinations.

The team’s “broad array of experience and expertise will allow us to better police the market, pursue misconduct and protect investors,” Kelly L. Gibson, acting deputy director of SEC’s enforcement division and head of the task force, said in a statement announcing the move.

Rooting out disclosure-related fraud is considered “bread and butter” work for the SEC, but climate-related disclosures have not been a central focus.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.