This afternoon, Congressman Bill Huizenga (R-MI), released the following statement after the Securities and Exchange Commission (SEC) issued its final rule to require climate-related risk disclosures.
Today’s announcement on climate-related risk disclosures confirms one thing, the SEC’s destructive regulatory agenda continues to hit new lows.
Investors should realize this overreach by the SEC will significantly hurt our economy while serving as boon for special interests and far-left activists. Additionally, by substantially changing this rule from its original proposal, it appears the SEC will be in direct violation of the Administrative Procedures Act and breaking federal law if it does not reopen the required comment period.
Unless he radically alters his approach to our capital markets, Gary Gensler’s legacy will be an overzealous bureaucrat who was repeatedly reined in by the courts.
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