In a significant but not unsurprising policy shift, the U.S. Securities and Exchange Commission (SEC) has announced the withdrawal of proposed rules aimed at enhancing ESG disclosures and modifying shareholder proposal processes. These rules were part of 14 Biden-era regulatory initiatives the SEC has decided to cease pursuing. This move aligns with the current administration's broader deregulatory agenda and reflects a shift in the SEC's approach to corporate governance and investor protections.
The Securities and Exchange Commission has abandoned the rulemaking process for regulations requiring enhanced disclosures for ESG and similarly labeled funds and altering the shareholder proposal and resubmission process, the agency announced in an agenda update Thursday.
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