SEC Withdraws Biden Era ESG Disclosure Rule

SEC Withdraws Biden Era ESG Disclosure Rule

On June 12th, the Securities and Exchange Commission (SEC) under President Trump withdrew 14 rules initially proposed under the Biden Administration affecting a plethora of financial service actors from investment advisors to fund managers. The agency signaled it would no longer pursue implementing these rules and that if it decided to revisit them, it would do so in alignment with the Administrative Procedure Act.   This is a commendable move b…

SEC Rule-Proposal Withdrawal Signals Regulatory Reset

In a decisive shift away from the expansive regulatory agenda of former Chair Gary Gensler, the U.S. Securities and Exchange Commission (SEC) announced on June 12 its withdrawal of 14 proposed rulemakings. The rescinded proposals—originally issued between March 2022 and November 2023—touched on a wide range of complex issues, including predictive data analytics, custody of client assets, cybersecurity, ESG disclosures, trading practices and brok…