[35416]
August 22, 2023
TO: Chief Risk Officer CommitteeESG Advisory Group
ESG Fund Disclosure Working Group
ESG Public Company Disclosure Working Group
EU CSDDD Working Group
EU Sustainable Finance Disclosure Regulation Working Group
Europe Regulatory and Policy Committee
SEC Rules Committee SUBJECTS: ESG RE: Recordings of Member-Only Webinars on State ESG Matters Available
As we previously informed you, we held two state ESG-related webinars in July.[1] These webinars are an exclusive opportunity for ICI members.
The first webinar explored how the National Securities Market Improvements Act of 1996 (NSMIA) circumscribes state regulatory authority over federally registered investment companies, broker-dealers, and investment advisers.
The second webinar explored actions that state legislatures and regulators have taken to restrict or promote ESG-related investing in their states. Several panelists who work closely on these issues spoke about the most recent developments and what to look out for this fall.
Below is a description of the panels.
NSMIA: A Look Backward and a Look Forward
Tami Salmon, Associate General Counsel, ICI, Moderator
Jason Pinney, Partner, Morgan, Lewis & Bockius
Steven Stone, Partner, Morgan, Lewis & Bockius
Rob Sweeney, Government Affairs Officer, State Policy, ICI
The panel provides a refresher on NSMIA, the statute that governs the authority states have over federally registered investment companies, investment advisers, and broker-dealers. Panelists discuss the history of the reforms NSMIA made to the federal securities laws and its implications for current and future state activities.
The State of the States: A Look at How States Are Reacting to ESG Investing
Josh Weinberg, Associate General Counsel, ICI, Moderator
Rob McKenna, Partner, Orrick
Mark Perlow, Partner, Dechert
Amy Roy, Partner, Ropes & Gray
State officials—including legislators, attorneys general, treasurers, secretaries of state, and others—have recently taken a variety of measures in reaction to ESG investing. The panel discusses state requirements, Civil Investigative Demands (CIDs), and other recent developments along with practical considerations for asset managers in this dynamic area.
The calls can be accessed on the ICI website in the ESG Resource Center or at the following link https://www.ici.org/events/23-ici-webinar-0718-recording.
Dorothy M. Donohue
Deputy General Counsel - Securities Regulation
Notes
[1]ICI Memorandum No. 35369 (July 6, 2023).