Recent SEC ESG Rulemaking, Examination and Enforcement Activity

The SEC has been laser-focused on the use of environmental, social and governance (ESG) criteria by investment advisers and the impact of climate and other ESG concerns on issuers. Pending rule proposals address both those issues. In the interim, the SEC continues to use its existing examination and enforcement tools to identify and address alleged misconduct on ESG matters. An ACA Group program examined all three areas of SEC activity, with a focus on how advisers can prepare for the new ESG rules and avoid running afoul of existing requirements. The program featured Adam S. Aderton, partner at Willkie Farr & Gallagher and former Co-Chief of the SEC’s Asset Management Unit and member of the SEC’s Climate and ESG Task Force; Alyssa Briggs, Managing Director of Client Development at ACA Group; and Dan Mistler, partner at ACA Group and head of ESG Advisory and Analytics. This article distills their insights. See “How the SEC’s Recent ESG Proposals May Impact Private Funds” (Sep. 22, 2022).

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