SEC chair spars with senators over climate rules

Read the full story at The Hill.

Securities and Exchange Commission (SEC) Chairman Gary Gensler faced a grilling on Capitol Hill on Thursday, with the agency head defending the SEC’s approach to issues including climate disclosure and cryptocurrency regulation.

The SEC’s proposed climate disclosure rules — which it released in March — would require publicly traded companies to calculate and publish the risks that climate change poses to their operations and what they are doing to address it.

Republicans have criticized the rules as onerous, arguing they are an example of the SEC conducting policy beyond its mandate. Gensler joined two other Democratic commissioners in voting for the proposed rules in March, while the SEC’s lone Republican commissioner, Hester Peirce, voted no.

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