News & Analysis as of

Disclosure Requirements Proposed Rules Environmental Social & Governance (ESG)

Proskauer - Regulatory & Compliance

Timetable extended for developing new CSRD Standards, following EFRAG Progress Report

A new extended timetable is now in play for the European Financial Reporting Advisory Group (“EFRAG”) following a letter sent by the EU Commissioner Albuquerque on 1 July 2025. EFRAG is tasked with the responsibility to...more

Latham & Watkins LLP

Government Sets Out Next Steps for UK Sustainability Reporting Framework

Latham & Watkins LLP on

The package of consultations covers UK Sustainability Reporting Standards, transition plans, and assurance of sustainability-related disclosures....more

Latham & Watkins LLP

SEC Withdraws Proposed Rule on ESG Disclosures for Investment Advisers and Investment Companies

Latham & Watkins LLP on

The withdrawal aligns with the SEC’s “back to basics” approach, but it does not preclude scrutiny of ESG in asset managers’ strategies, marketing, and fund documentation....more

Jones Day

UK SRS vs. ISSB: What You Need to Know About the Key Differences

Jones Day on

On June 25, the UK Government published Exposure Drafts of the UK Sustainability Reporting Standards (UK SRS), based on the IFRS Sustainability Disclosure Standards (IFRS S1 and S2)...more

Ropes & Gray LLP

EFRAG’s June 20 Progress Report Provides An Early Look at Proposed Changes to CSRD Reporting

Ropes & Gray LLP on

Reporting under the EU’s Corporate Sustainability Reporting Directive (CSRD) will be simplified as part of the Omnibus process. In connection with the Omnibus, EFRAG was mandated to provide technical advice to the European...more

Dorsey & Whitney LLP

SEC Withdraws 14 Proposed Rules

Dorsey & Whitney LLP on

On June 12, 2025, the SEC formally withdrew 14 rule proposals, all but one of which were introduced during Gary Gensler’s tenure as SEC Chair. The SEC did not provide a reason for the withdrawals but stated that if it decides...more

Alston & Bird

SEC Withdraws Multiple Rule Proposals Affecting Investment Advisers

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The Securities and Exchange Commission (SEC) has retracted 14 rule proposals issued in 2022 and 2023. Our Investment Funds Team examines what the SEC’s withdrawal means for investment advisers going forward....more

Jones Day

SEC Withdraws Proposed ESG Disclosure and Shareholder Submission Rules

Jones Day on

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...more

Paul Hastings LLP

SEC Withdraws 14 Pending Rule Proposals

Paul Hastings LLP on

On June 12, the Securities and Exchange Commission (SEC) formally withdrew 14 proposed rules for investment advisers, broker-dealers and public companies, many of which had been pending for several years. Should the SEC...more

Ropes & Gray LLP

SEC Clears Unfinished Rulemakings from Regulatory Agenda

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On June 12, 2025, the SEC issued a notice (the “Notice”) formally withdrawing certain proposed rulemakings issued in 2022 and 2023. Of particular interest to the investment management industry, the Notice withdraws the...more

Mintz

Canada Pauses Mandatory Climate Disclosure Rules

Mintz on

Recently, the Canadian Securities Administrators (the umbrella organization of Canada's provincial securities regulators) announced that it would pause the development of certain sustainability reporting initiatives,...more

Bennett Jones LLP

Updated Rules for Mining Disclosure: What the Canadian Securities Administrators Proposed Changes Mean for Industry Participants

Bennett Jones LLP on

The Canadian Securities Administrators (CSA) is undertaking a significant overhaul of National Instrument 43-101 – Standards of Disclosure for Mineral Projects (the Instrument), Form 43-101F1 – Technical Report (the Form) and...more

A&O Shearman

ESMA consultation on transparency and integrity of ESG rating activities

A&O Shearman on

The European Securities and Markets Authority (ESMA) has published a consultation paper on draft regulatory technical standards (RTS) on the transparency and integrity of environmental, social and governance (ESG) rating...more

Jones Day

Financial Institutions May See Scope 3 Reporting Relief Under ISSB Proposals

Jones Day on

The International Sustainability Standards Board (ISSB) proposed targeted amendments to IFRS S2 Climate-related Disclosures standard, followed by similar changes from the Australian Accounting Standards Board (AASB) to its...more

Blake, Cassels & Graydon LLP

Climate and Diversity: CSA Stays Neutral on a Moving Train

On April 23, 2025, the Canadian Securities Administrators (CSA) announced that it is pausing its efforts to develop new and enhanced climate and diversity-related disclosure rules for public companies in Canada. This decision...more

Proskauer - Regulatory & Compliance

Have your say on CSRD: EFRAG Launches Public Call for Input on Revisions to ESRS

The European Financial Reporting Advisory Group (EFRAG) has launched a public call for input (Call for Input) on 9 April 2025, seeking feedback from stakeholders and, in particular, from the first wave of preparers who...more

Goodwin

SEC Outlook: Potential Updates Under Nominated Chairman Atkins

Goodwin on

The SEC currently has several notable rule proposals that have received public comment but have not yet been finalized. The potential direction of these proposals is likely to be influenced by the leadership of the new SEC...more

Foley Hoag LLP - Public Companies & the Law

SEC approves Nasdaq’s proposal to remove board diversity rules to align with 5th Circuit’s mandate

As we previously posted, the U.S. Court of Appeals for the Fifth Circuit vacated the SEC’s approval of Nasdaq’s board diversity disclosure rules last month, after which Nasdaq indicated that it did not intend to seek further...more

Wiley Rein LLP

FAR Council Withdraws Rulemakings on Pay Transparency and Contractor Disclosure of Greenhouse Gas Emissions

Wiley Rein LLP on

WHAT: The Federal Acquisition Regulatory Council (FAR Council) announced this week that it is withdrawing two proposed rules. First, it withdrew a January 2024 proposed rule that sought to prohibit government contractors from...more

King & Spalding

What Does a Second Trump Administration Mean for the Private Funds Industry?

King & Spalding on

The incoming Trump administration will bring significant changes to regulatory policy as it relates to the asset management industry, and private funds, in particular...more

Carlton Fields

Outlook Dark for the SEC’s ESG Rule After Loper Bright

Carlton Fields on

For 40 years, the standard of review for agency rulemaking was set forth in the U.S. Supreme Court’s 1984 decision in Chevron U.S.A. Inc. v. Natural Resources Defense Council Inc. Chevron held that when a statute is silent or...more

Keating Muething & Klekamp PLL

Securities Snapshot: 3rd Quarter 2024 - Status of SEC Rulemaking & Expectations after Presidential Election

As the summer heat fades and leaves begin to fall, so, too, does the Securities and Exchange Commission’s regulatory momentum—at least for now. With the presidential election on the horizon, the fate of several key rulemaking...more

Crunched Credit

Regulatory Contagion

Crunched Credit on

Last year, I wrote a commentary entitled Contagion.  That commentary was inspired by the early days of the meltdown of the crypto currency market (long before SBF made the whole space way more notorious with a whiff of...more

Bass, Berry & Sims PLC

SEC Voluntarily Pauses Implementation of Climate Disclosure Rules Amid Legal Challenges

Today, the Securities Exchange Commission (SEC) voluntarily stayed its recently issued Climate Disclosure Rules.   The SEC hopes the voluntary stay will facilitate the resolution of the current Eighth Circuit challenge...more

Proskauer - The Capital Commitment

ESG in 2024: Traps for the Unwary

ESG continues to be a hot topic for 2024 for investors and regulators alike. The specific concerns investors and regulators have – and what they expect to develop over the coming months – differ, however, across...more

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