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Federal court strikes down Missouri investment rule targeted at `woke politics'

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A federal judge has struck down a Missouri rule requiring disclosure of “social objectives” in investment decisions. Republican Secretary of State Jay Ashcroft had described the rule as a way to expose financial institutions that “put woke politics ahead of investment returns.

FILE - Missouri Secretary of State Jay Ashcroft speaks to reporters on June 29, 2022, at his Capitol office in Jefferson City, Mo. JEFFERSON CITY, Mo. — A federal judge has struck down Missouri investment regulations that Republican Secretary of State Jay Ashcroft had touted as way to expose financial institutions that “put woke politics ahead of investment returns.”

The state’s most prominent business group on Friday praised the ruling as a triumph for free enterprise. Ashcroft, whose office enforces state securities laws, issued rules in 2023 requiring investment professionals to get written consent from customers before incorporating “a social objective or other nonfinancial objective” into decisions about buying and selling securities.

 

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Federal court strikes down Missouri investment rule targeted at `woke politics’JEFFERSON CITY, Mo. (AP) — A federal judge has struck down Missouri investment regulations that Republican Secretary of State Jay Ashcroft had touted as
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