The US Securities and Exchange Commission (SEC) proposed new federal rules on environmental, social, and governance (ESG) disclosure obligations to “separate the wheat from the chaff” in an attempt to combat the malpractice of ‘greenwashing’
Yesterday the SEC panel voted 3:1 in favor of the proposed rule. Commissioner Hester Pierce was the only dissenting voter. With this change imposed in the system, the funds and Registered Investment Advisors (RIA) would be required to provide more detailed disclosure on ESG strategies and methodology in annual reports, fund prospectuses, and advisor disclosure documents like Form ADVs
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Source: Cryptocurrency - investing.com
