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To embed, copy and paste the code into your website or blog: The Securities and Exchange Commission’s (SEC, or Commission) Division of Examinations (Division) recently issued a Risk Alert highlighting staff observations from examinations of investment advisers, registered investment companies and private funds (firms) engaged in environmental, social, and governance (ESG) investing. This article summarizes the Risk Alert, including focus areas and observations of deficiencies and internal control weaknesses, as well as recommendations of effective practices relating to ESG investing that may be helpful in developing and enhancing a firm’s compliance practices. As investor demand for ESG information rises, the need for investment firms to align their disclosure with actual practice and to integrate compliance personnel into their ESG-related practices will continue to grow. ....
The U.S. Securities and Exchange Commission (SEC) Division of Examinations (Division 1) recently released a Risk Alert 2 highlighting its continued focus on digital assets 3 that are securities (Digital Asset Securities). The Division emphasized that the offer, sale, and trading of Digital Asset Securities present unique risks to investors and encouraged firms to consider the distinct features of distributed-ledger technology when designing their regulatory-compliance programs. The Risk Alert provides observations made by Division staff during recent examinations of industry participants that may assist firms in developing their compliance practices and policies. The Risk Alert also provides transparency about areas of focus for the Division s future ....
To embed, copy and paste the code into your website or blog: It’s widely anticipated that we’ll soon be seeing more action from the SEC on sustainability disclosure, including possibly a prescriptive ESG framework that draws on some global metrics. (See, e.g.,this PubCo post and this PubCo post.) Trying to head those prescriptive ESG metrics off at the pass is Commissioner Hester Peirce yes, she who once described “ESG” as standing for “enabling shareholder graft” in her statement, Rethinking Global ESG Metrics. With Gary Gensler now sworn in as SEC Chair, the revised composition of the SEC does not bode well for Peirce’s mission. Peirce concludes her statement with the admonition, “[l]et us rethink the path we are taking before it is too late.” But has the train already left that station? ....
To print this article, all you need is to be registered or login on Mondaq.com. On April 9, 2021, the SEC s Division of Examinations (“EXAMS”) published a Risk Alert summarizing its observations from recent examinations of investment advisers, registered investment companies, and private funds engaged in ESG investing. 1 The Risk Alert is the latest in a series of announcements from the regulator that demonstrate its focus on investor protection in connection with climate and ESG investing. On March 4, 2021, the SEC announced the launch of the Climate and ESG Task Force within the Division of Enforcement. The task force is led by Kelly L. Gibson, Acting Deputy Director of ....
SEC shouldn’t require ESG metrics – commissioner SEC shouldn’t require ESG metrics – commissioner Bloomberg Hester M. Peirce, a Republican, has served on the SEC since 2018. Her renomination as commissioner was secured Thursday. The SEC should facilitate creative thinking to address ESG issues, not require companies to disclose standard ESG metrics, Commissioner Hester Peirce said in a statement. In Rethinking Global ESG Metrics, Ms. Peirce noted mounting pressure for a single global set of ESG metrics, and that the idea of enlisting the securities laws to achieve ESG objectives is gaining traction among activists and policy elites, with some advocates calling for alignment with European rules in the works or standards set by an international body. ....