Last month, Chicago-based regulatory law attorney Ty Covey took to RealClear Markets to highlight the potential legal challenges that currently loom over the Securities and Exchange Commission’s (SEC) proposed climate disclosure rule. Specifically, Covey discusses the implications of the major questions doctrine and how it could come into play when the climate disclosure rule is reviewed…
Republicans want answers from the Securities and Exchange Commission (SEC) regarding its proposed climate disclosure rule. Last month, Senator Tim Scott (R-S.C.) and Representatives Patrick McHenry (R-N.C.) and Bill Huizenga (R-Mich.) sent a letter to SEC Chairperson Gary Gensler saying the rule goes beyond the agency’s “mission, expertise, and authority.” Gensler was admonished for refusing…
George Mason Law Professor Donald Kochan recently published a Wall Street Journal op-ed that highlighted various reasons as to why the Securities and Exchange Commission (SEC) should actively avoid any sort of climate regulation. His piece called out the SEC for overstepping its congressional mandate into an area which is very clearly beyond its proper scope of…
Earlier this month, Gary Gensler, Chairperson of the Securities and Exchange Commission (SEC), reported that the Commission is considering “watering-down” the requirements that were originally proposed in their climate disclosure rulemaking in March. The original proposal garnered widespread criticism and opposition. As it currently stands, the rule will harm businesses by mandating they report on…
The main criticisms surrounding the Securities and Exchange Commission’s (SEC) proposed climate disclosure rule have varied, but one seems to remain rather consistent. With their proposed rule, the SEC is straying into areas in which they have no congressionally-delegated authority. Earlier this month, Federal Reserve Chair Jerome Powell added his thoughts to the argument. When asked about…
Earlier this month, the Securities and Exchange Commission (SEC) released its newest rendition of their unified agenda. This agenda details upcoming regulations and potential deadlines that each ruling is projected to have. However, this deadline continues to face significant pushback from affected parties who realize this ruling is not in their best interest. Over the last…
Among many energy groups that oppose the Securities and Exchange Commission’s (SEC) proposed climate disclosure rule is the Western Energy Alliance. The Western Energy Alliance represents more than 200 companies whose goal is to engage in oil and gas exploration and production in an environmentally sound way. They voiced their concerns in a 55-page long comment letter which…
On December 7, the American Enterprise Institute (AEI) hosted an event forum that featured a discussion surrounding the Securities and Exchange Commission’s (SEC) proposed climate disclosure rule and its implications. SEC Commissioner Hester Peirce, keynote speaker, shared her own criticisms and viewpoints on the proposed rule. Peirce opened her remarks by stating her views were her own, and not…
By Andrew N. Vollmer–Senior affiliated scholar with the Mercatus Center at George Mason University, former professor of law, general faculty, at the University of Virginia School of Law, former deputy general counsel of the Securities and Exchange Commission, and former partner in the securities enforcement group of Wilmer Cutler Pickering Hale and Dorr LLP. The…
The American Enterprise Institute (AEI) recently announced an upcoming virtual event on December 7 at 2pm ET: “A Discussion of the Proposed Securities and Exchange Commission Rule on the Enhancement and Standardization of Climate-Related Disclosures for Investors.” Moderated by AEI Senior Fellow Benjamin Zycher, the event will feature the following speakers: Hester M. Peirce, Commissioner, Securities and Exchange Commission…