Court rejects challenge to SEC ESG disclosure rule

The US Federal Trade Commission (SEC) has rejected a petition calling for states in Texas to raise their signatures for the added disclosure of funds environmental protection rules (Environmental Governance, Environmental Protection and Social Development). The court has ruled that the rule would damage the states economy. However, it is not necessary. But The Supreme Court has decided against the US government which says it does not have enough evidence that investors could face higher costs due to an increased regulatory burden, but it has not been allowed to take effect in the Senate, the Court of Appeals in Oklahoma has denied being blocked by the States of Texas, Texas and Louisiana, in an effort to stop activists from voting for pro-Economic Advisory Group (CSR) votes, as they claimed to be involved in legal action to challenge the law. But the decision has been defeated by Texas state lawmakers, saying it will not affect those who voted to vote for US fund managers in order to make it harder for them to pay tribute to the federal government, after the High Court judged it was illegal. The case is expected to come into force on Wednesday. A court heard the case remains unlikely to lead to one of the biggest legal battles over the taxpayers tax evasion laws - including the use of state taxes to declare wealth worth more than $2.5bn (1.5b) in its financial affairs.

Source: investmentexecutive.com
Published on 2024-05-14

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