SEC Forms Enforcement Task Force for Climate and ESG Issues

SEC Forms Enforcement Task Force for Climate and ESG Issues

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The SEC has created a new enforcement task force that will focus on climate and ESG issues.

The Climate and ESG Task Force will work to develop initiatives that proactively identify ESG-related misconduct, and coordinate the effective use of division resources, including the use of data analysis to mine and assess information across registrants, and identify potential violations.

“The initial focus will be to identify any material gaps or misstatements in issuers’ disclosure of climate risks under existing rules,” says the release from the SEC. “The task force will also analyze disclosure and compliance issues relating to investment advisers’ and funds’ ESG strategies.“

Kelly Gibson, the Acting Deputy Director of Enforcement, will lead the task force, which includes 22 members drawn from the SEC’s headquarters, regional offices, and enforcement specialized units.

“Proactively addressing emerging disclosure gaps that threaten investors and the market has always been core to the SEC’s mission,” said Gibson in the release. “This task force brings together a broad array of experience and expertise, which will allow us to better police the market, pursue misconduct and protect investors.”

Read the SEC’s full release here.



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