Response to SEC Request for Comment on Fund Names
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The Bottom Line: Response to SEC’s RFC on Fund Names to such terms and “ESG” or “Sustainable” proposes for consideration a potential fund classification framework. Summary This comment note was submitted on May 5, 2020 in response to the SEC’s Request for Comment (Release Nos. IC-33809; File No. S7-04-20) on Fund Names, in particular as […]
SEC Issues Request for Comment on ESG Fund Names
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The Bottom Line: The SEC issued a request for comment on ESG in fund names but efforts to standardize sustainable investing terminology should come first. SEC’s Request for Comment on Fund Names should be preceded by an effort to define and standardize sustainable investing terminology In early March the SEC issued a Request for Comment […]
ESG Funds Draw SEC Scrutiny
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Introduction and Summary According to an article entitled “ESG Funds Draw SEC Scrutiny” that appeared in the Wall Street Journal on December 16, 2019, regulators at the U.S. Securities and Exchange Commission (SEC) are scrutinizing some investment management firms that market themselves on the basis of socially responsible considerations or the adoption of strategies involving […]
President Trump Executive Order and Senate Committee Hearing Strike Against ESG Integration
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Introduction and Summary Two recent strikes against ESG integration and complementary proxy voting actions, demonstrated by a provision in the April 10, 2019 Executive Order signed by President Trump on Promoting Energy Infrastructure and Economic Growth that calls for a Department of Labor (DOL) review of ESG practices as well as a previous week’s hearing […]
Department of Labor Reiterates Guidance on Fiduciary Duty and Social Investments
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On April 23, 2018, the U.S. Department of Labor (DOL) Again Attempts to Clarify Social Investing Rules for Plan Fiduciaries On April 23, 2018, the U.S. Department of Labor (DOL) released a Field Assistance Bulletin intended to give further guidance to address questions that may arise from plan fiduciaries and other interested parties about Interpretive […]