The Securities and Exchange Commission (SEC) paused rules requiring companies to disclose business risks posed by the climate in their registration statements and annual reports. The agency paused the adoption of amendments to the Securities Act of 1933 and Securities Exchange Act of 1934, which would have obligated companies to publish risks likely impacting business strategies, operations or finances. Several business organizations had filed requests for pauses.
With the SEC’s stay, the Eighth Circuit Appeals Court would be able to focus solely on the rules’ merits and avoid procedural challenges by streamlining resolutions to the groups’ petitions, according to the agency
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