SEC’s Defeat in Court Shows Continued Need to Rein in the Agency

The Securities and Exchange Commission’s (SEC) latest loss in the courts should remind people of how extensive its overreach has become. Just last week, the Fifth Circuit Court of Appeals struck down the SEC’s 2023 rule on Private Fund Advisors, realizing and once again proving how far the SEC has crept into the lives of citizens….

Supreme Court Rules for CFPB, But Courts Cannot Compare Apples to Oranges with SEC Climate Rule

With the ongoing stay in the Securities and Exchange Commission’s (SEC) climate disclosure rule, eyes are on the courts for how they will rule to rein in the SEC from going outside of their agency’s authority.  Recent news of the Supreme Court’s decision on the Consumer Financial Protection Bureau (CFPB), rejecting a challenge to its unique funding structure, has…

Members of Congress Take Action to Fix SEC’s Mission Creep

Last month, the Securities and Exchange Commission (SEC) released the final version of its climate disclosure rule. The announcement was met with a wide variety of reactions – proponents saying the rule was too watered down and opponents saying that it still needs to be repealed. These sentiments were not lost among key congressional leaders…

The SEC Should Reverse, Rather Than Pause, its Climate Disclosure Rule

Earlier this month, the SEC announced it would pause the implementation of its controversial climate disclosure rule due to the legal challenges that stemmed from its announcement. After years of buildup, the Commission had unveiled its finalized ruled on March 6th. However, the rule immediately faced legal challenges denouncing the Commission’s regulatory overreach. While the…

SEC Finalized its Climate Disclosure Rules, But Forgot to Consider the American Economy

Last week, the House Financial Services Committee held a hearing titled, “Beyond Scope: How the SEC’s Climate Rule Threatens American Markets.” The hearing examined the impact that the Securities and Exchange Commission’s (SEC) final 885-page rule, requiring public companies to release climate-related disclosures that track Scope 1 and 2 emissions, would have on the American economy across industries. Ranging from…

SEC’s Final Climate Regulation Warrants Legal Scrutiny and Challenges

WASHINGTON, D.C. – Today, the Securities and Exchange Commission (SEC) finalized its climate disclosure rule, which will illegally elevate the SEC as a climate regulator across the American economy. This decision comes following a two-year period in which the SEC faced mounting pressure from businesses, taxpayers, consumers, farmers, and many other voices to withdraw this economically…

SEC Chair Gary Gensler Continues to Send Mixed Messages

Investors and businesses are continuing to patiently twiddle their thumbs waiting for the Securities and Exchange Commission’s (SEC) climate disclosure rule to finally be released. SEC Chair Gary Gensler is not making the wait seem any shorter, as he continues to highlight the many obstacles facing the rule, often sending mixed messages. Earlier this month,…

SEC’s Cyber Attack a Reminder for Agency to Secure Networks and Abandon Mission Creep

WASHINGTON, D.C. – This week, the Securities and Exchange Commission (SEC) suffered a major cybersecurity breach of a social media account belonging to the agency. Following the breach, SEC Mission Creep – a project of the Taxpayers Protection Alliance Foundation (TPAF) –  urged the agency to focus on its existing responsibilities to taxpayers and David…

Looking Ahead to 2024, Looking Back at the SEC Climate Rule Controversy in 2023

As the new year begins, people often take the time to reflect on the past 12 months and rid themselves of certain things they do not wish to take with them into the New Year. However, one thing that will still be looming over the heads of investors and public companies is the Securities and…

Manchin and Hagerty Call on SEC to Allow More Public Input on Proposed Climate Disclosure Rule

As the countdown to the release of the Securities and Exchange Commission’s (SEC) proposed climate disclosure rule ticks away, lawmakers are re-upping their opposition of the rule. Last month, Sen. Joe Manchin (D-W.Va.) called on the agency to consider more public opinions and input before finalizing. Manchin, alongside Sen. Bill Hagerty (R-Tenn.), asked the SEC to…