ESG Content

The United States Court of Appeals for the Fifth Circuit vacated the order of the Securities and Exchange Commission approving Nasdaq's Board Diversity Proposal

The Attorneys General of eleven States, led by Texas, filed suit against three asset managers in the U.S. District Court for the Eastern District of Texas, alleging that the asset managers' "acquisition and use of shareholdings in … domestic coal producers" violated antitrust laws.

On 25 November 2024, the Securities and Futures Commission (SFC) issued a circular to provide guidance to asset managers regarding due diligence on ESG ratings and data providers, following the recent publication of the Hong Kong voluntary code of conduct for ESG ratings and data...

Last week, ICI sent a letter (linked below) to SEC Chair Gensler, requesting that the SEC (i) suspend the compliance dates for certain recent regulatory actions, (ii) halt work on not-yet-finalized rulemaking, and (iii) extend soon-to-expire relief that would have a significant impact...

On November 8, 2024, the SEC instituted public administrative and cease-and-desist proceedings against an asset manager arising from misleading statements concerning the company-wide percentage of assets under management by it and its affiliates that was "ESG integrated," a term that...

After its previously promulgated rules seeking to impose certain conditions on financial professionals were enjoined, the Missouri Secretary of State filed an emergency amendment and an emergency rule, each effective November 6, 2024, identifying practices in the brokerage industry...

This memorandum catalogues significant ESG related developments that have occurred since February 2, 2024.

For the thirteenth year in a row, the Securities and Exchange Commission's Division of Examinations has published its examination priorities for the coming year. While the Division has historically published these exam priorities near the beginning of the calendar year, this is the...

On October 21, 2024, the SEC instituted public administrative and cease-and-desist proceedings against an asset manager arising from statements made regarding three exchange-traded funds that it marketed as incorporating environmental, social, and governance factors. To settle the...

The Missouri Secretary of State has voluntarily dismissed its appeal in a recently decided case concerning Missouri Securities Division rules that would have required specified financial professionals to obtain a client's written consent on state-scripted documents before providing...