SEC Announces Enforcement Task Force Focused on Climate and ESG Issues

March 5, 2021

On March 4, 2021, the Securities and Exchange Commission (SEC) announced the creation of the “Climate and ESG Task Force” in the SEC’s Division of Enforcement. The purpose of the Task Force is to “develop initiatives to proactively identify ESG-related misconduct.” The Task Force’s initial focus will be to identify “any material gaps or misstatements in issuers’ disclosure of climate risks under existing rules.” The Task Force will also “analyze disclosure and compliance issues relating to investment advisers’ and funds’ ESG strategies.”

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The following Gibson Dunn attorneys assisted in preparing this update: Hillary H. HolmesElizabeth Ising and Ronald Mueller.