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Court blocks Missouri anti-ESG rules (2024)
| Environmental, social, and corporate governance |
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| • What is ESG? • Enacted ESG legislation • Arguments for and against ESG • Opposition to ESG • Federal ESG rules • ESG legislation tracker • Economy and Society: Ballotpedia's weekly ESG newsletter |
A federal court last week threw out two 2023 Missouri rules that limited ESG in investment plans. The court argued the rules conflicted with federal law:
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Investment advisors and brokers have scored an important victory against encroaching regulatory oversight—and additional paperwork—as a federal court struck down a pair of rules Missouri authorities enacted regarding the use of 'nonfinancial factors' in investment decisions, such as environmental, social, and governance (ESG). The rules, which were adopted June 1, 2023 and took effect July 30 that year, had required wealth managers to have clients sign disclosures acknowledging that they were considering ESG or other nonfinancial issues when advising them on investments. Sifma, a Wall Street trade group, sued, arguing that state regulators in Missouri lacked the authority to write rules governing the conduct of financial professionals that are already subject to federal regulation.[1] |
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See also
- Environmental, social, and corporate governance (ESG)
- Economy and Society: Ballotpedia's ESG newsletter
External links
Footnotes
- ↑ Note: This text is quoted verbatim from the original source. Any inconsistencies are attributable to the original source.
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