The interim president of the US stock and securities commission. UU. He pointed out on Tuesday that the regulator can reverse a controversial rule that requires that thousands of public companies reveal the threats their businesses face from risks related to The climate and the environment.

Mark Uyeda, the interim president, ordered the SEC’s lawyers to request a Federal Court of Appeals in St. Louis to delay oral arguments on the rule, in a lawsuit filed by the United States Chamber of Commerce and others Business groups Many general prosecutors of the Republican State also oppose the rule.

“The rule is deeply defective and could inflict significant damage to capital markets and our economy,” said Uyeda, Republican, in a statement citing the executive order of the president of January, January 20, imposing a freezing in the elaboration of rules regulatory

Uyeda’s decision caused strong criticisms of the SEC commissioner, Caroline Crenshaw, a Democrat.

She suggested that Uyeda was abandoning the appeal “to align with her political preferences. [in] An end of the authority of the Commission. “

Under former President Gary Gensler, the SEC last March required companies to reveal a variety of climate -related risks for their business, because information could be material for investors.

Critics have said that the rule is unnecessarily onerous, that investors do not need additional disseminations and that securities laws already require companies to provide material information to investors.

Supporters say that the rule gives investors more information about threats that could result from climate change, including forest fires such as last month in the Los Angeles area.

The rule had diluted a previous proposal that required greater revelations related to greenhouse gas emissions, disappointing some climate defenders.

Gensler suspended the application of the rule in April, waiting for the review of the Court.

The Democrats, including Gensler, occupied three of the five post commissioner positions when the rule was approved.

Two of the three current commissioners of the SEC are Republicans. The regulator is expected to have three Republican commissioners, including Trump’s nominee, Paul Atkins, as president, and two Democratic commissioners once the open seats are filled.

Atkins has not hidden its distrust of much of the SEC’s application process, and has argued that corporate fines unfairly penalize shareholders.

The SEC was recently restarted in the capacity of the execution personnel of issuing citations, a change that probably decreases investigations.

Meanwhile, Uyeda installed the SEC Republican commissioner, Hester Peirce, a strong cryptocurrency defender, to supervise a working group to work with that industry.

Clara Vondrich, lawyer for the non -profit public citizen, in a statement said that delaying the climatic appeal “demonstrates a fundamental contempt for retail investors who need clear and consistent financial revelations so that they can wisely invest their savings won.”

Topics USA