Regulatory Outlook | 09.15.22
U.S. Senate Grills SEC's Gensler Over Climate Rule, Crypto Stance
Appearing before the U.S. Senate Banking Committee, U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler defended his agency's stance on cryptocurrencies and its campaign to incorporate climate risks into public company disclosures. He recently said crypto companies may require multiple SEC registrations and need to split their operations into separate legal entities in order to augment investor safeguards and avoid conflicts of interest. Gensler also stressed that the new rules are essential to ensuring the U.S. capital markets remain the global "gold standard." He said the climate rule would supply much-needed clarity and consistency to an issue critical to investors and being disclosed by some companies under various schemes, adding that the SEC was evaluating all feedback.
Read the full article on Reuters