U.S. Authorities Probing Deutsche Bank’s DWS Over Sustainability Claims – WSJ

U.S. authorities are investigating Deutsche Bank AG’s DB -3.15% asset-management arm, DWS Group, after the firm’s former head of sustainability said it overstated how much it used sustainable investing criteria to manage its assets, according to people familiar with the matter. The probes, by the Securities and Exchange Commission and federal prosecutors, are in early…

SEC Chair on Climate Risk Disclosure

SEC Chair Gary Gensler spoke to PRI about climate risk disclosure requirements. Washington D.C. July 28, 2021 Thank you, Fiona, for the kind introduction. It’s good to be here with the Principles for Responsible Investment. As is customary, I’d like to note my views are my own, and I’m not speaking on behalf of the…

SEC Chair Gensler on Climate Risk Disclosures

Chair Gary Gensler spoke about upcoming SEC guidance on climate Risk to the Principles for Responsible Investment (emphasis added): Washington D.C. July 28, 2021 Thank you, Fiona, for the kind introduction. It’s good to be here with the Principles for Responsible Investment. As is customary, I’d like to note my views are my own, and…

SEC Commissioner Hester Peirce’s Disingenuous Slant on ESG

SEC Commissioner Hester Pierce, who came to the Commission from the Koch-funded, ultra-anti-regulatory Mercatus Center, the same person who informed the Council of Institutional Investors that their members did not know what it was that investors needed, is now speaking out against ESG disclosures, in a speech to Brookings. What is especially infuriating about Pierce…

SEC Asset Management Advisory Committee Recommendations for ESG Disclosure

Recommendations Regarding Issuer Disclosure of Material ESG Matters: –  The AMAC recommends the SEC take steps to foster meaningful, consistent, and comparable disclosure of material environmental, social, and governance (ESG) matters by issuers. –  To foster meaningful, consistent, and comparable disclosure, the SEC should encourage issuers to adopt a framework for disclosing material ESG matters…

SEC Suspends Trump-Era Proxy Advisory Rule

From SEC Chair Gary Gensler [footnotes omitted, emphasis added]: In September 2019, the Commission issued an interpretation and guidance addressing the application of the proxy rules to proxy voting advice businesses. Last July, the Commission adopted amendments to Rules 14a-1(l), 14a-2(b), and 14a-9 concerning proxy voting advice. I am now directing the staff to consider…