{"id":1906929,"date":"2023-03-29T22:42:24","date_gmt":"2023-03-30T02:42:24","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/us-lawmakers-press-wall-st-regulator-over-coming-climate-rule\/"},"modified":"2023-03-29T22:48:36","modified_gmt":"2023-03-30T02:48:36","slug":"us-lawmakers-press-wall-st-regulator-over-coming-climate-rule","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/us-lawmakers-press-wall-st-regulator-over-coming-climate-rule\/","title":{"rendered":"US lawmakers press Wall St regulator over coming climate rule"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">20<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fus-lawmakers-press-wall-st-regulator-over-coming-climate-rule%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1906929&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p><!DOCTYPE html PUBLIC \"-\/\/W3C\/\/DTD HTML 4.0 Transitional\/\/EN\" \"http:\/\/www.w3.org\/TR\/REC-html40\/loose.dtd\"><br \/>\n<?xml encoding=\"utf-8\" ?><html><body><\/p>\n<div class=\"entry-content\">\n<p>By Douglas Gillison<\/p>\n<p>(Reuters) \u2013     Republican lawmakers on Wednesday prodded Wall Street\u2019s top regulator to justify his agency\u2019s efforts to regulate companies\u2019 climate disclosures and criticized the U.S. Securities and Exchange Commission for what they said was hasty rulemaking. <\/p>\n<div id=\"div-gpt-ad-1663871513696-art-1\" style=\"min-width: 320px; min-height: 50px;  text-align: center;\">  \t<script>  \t\tgoogletag.cmd.push(function() { googletag.display('div-gpt-ad-1663871513696-art-1'); });  \t<\/script>  <\/div>\n<\/p>\n<p>In an appearance before a House of Representatives panel overseeing federal spending, SEC Chair Gary Gensler defended the agency\u2019s request for a 12% budget increase to respond to burgeoning growth in financial markets and the mounting risk of misconduct.<\/p>\n<p>Gensler said that, with the frequency of stock trades and volume of privately managed assets soaring, \u201cwe must be able to meet the match of bad actors.\u201d He also described cryptocurrency markets as a \u201cwild West\u201d that was \u201crife with non-compliance.\u201d<\/p>\n<p>It was his first testimony since Republicans took control of the lower chamber of Congress in November, bringing some of his staunchest critics into the majority.<\/p>\n<p>Conservative lawmakers and commentators have cast Gensler as an interventionist regulator saddling markets with left-leaning social policies unrelated to making money.<\/p>\n<p>The SEC last year proposed requiring publicly traded companies to disclose climate-related financial impacts, including physical risks from weather events, as well as carbon emissions that they, their energy providers and their suppliers produce. The agency cited widespread demand and emerging consensus among international regulators. <\/p>\n<p>Industry fiercely opposed aspects of the rule, including farmers who fear they may have to report emissions to customers covered by the rule. Republican lawmakers also repeatedly disputed the securities regulator\u2019s legal authority to mandate climate disclosures.<\/p>\n<p>\u201cWhy is the SEC getting involved in emissions with this climate change?\u201d asked Alabama Republican Jerry Carl. \u201cI\u2019m not a fan of it.\u201d<\/p>\n<p>Gensler said investors by and large now demanded and many companies were providing climate disclosures. <\/p>\n<p>\u201cOur role is to ensure that those disclosures\u2026 that investors are getting are not misleading,\u201d he said.<\/p>\n<p>Carl cited Gensler\u2019s past remarks that the definition of so-called Scope III emissions described in the 2022 proposal, which would govern carbon generated in companies\u2019 supply chains, were \u201cnot well developed,\u201d drawing speculation that the Commission may water down or entirely eliminate that part of proposal as some have called for in industries such as retail and aerospace.<\/p>\n<p>Gensler said he did not want to \u201cprejudge\u201d the rulemaking process. \u201cIt\u2019s trying to bring some consistency to those disclosures,\u201d he said.<\/p>\n<p>Gensler portrayed the $2.4 billion request for fiscal 2024 as marking a continued recovery from decline. Under the administration of former President Donald Trump, he said, staffing levels fell 4%. With about 5,300 positions currently, agency staffing is only 3% larger than it was before Trump took office, according to Gensler.<\/p>\n<p>Lawmakers questioned him about conclusions of a recent internal watchdog report that staff attrition and a heavy workload were endangering the quality of rulemaking.<\/p>\n<p>Gensler said turnover was in part driven by the desirability of SEC employees on a competitive labor market.<\/p>\n<p>\u201cWe run about 6% attrition right now, which is consistent with other agencies,\u201d he said.<\/p>\n<p>The final budget will be determined by a narrowly divided Congress now deadlocked over raising federal borrowing limits. The SEC routinely tells lawmakers its budget is \u201cdeficit neutral\u201d since its spending is offset by transaction fees assessed from the markets.<\/p>\n<p>(This story has been refiled to say Gensler, not Gensler\u2019s, in paragraph 3)<\/p>\n<\/p>\n<p> (Reporting by Douglas Gillison; Editing by Richard Chang and David Gregorio)<\/p>\n<p><a href=\"https:\/\/www.oann.com\/uncategorized\/us-lawmakers-press-wall\/attachment\/file-photo-the-seal-of-the-u-s-securities-and-exchange-5\/\"><\/a><\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>A top Orange County, CA public health leader has announced he is resigning. This as the country faces a lawsuit over its COVID polices. <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>Republican members of the House are optimistic about their answer to the Biden Administration\u2019s disastrous \u201cAmerica Last Policies.\u201d <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>Daniel McAdams, the executive director at the Ron Paul Institute for Peace and Prosperity, says conservatives should remain optimistic as there appears to be a group of young emerging conservatives who are brining a fresh new perspective.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>Tensions flare between the U.S. and Israel after Biden criticizes the prime minister\u2019s plans to overhaul the judicial system<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>By Arpan Chaturvedi NEW DELHI (Reuters) -An Indian tribunal on Wednesday gave partial relief to Alphabet Inc\u2019s Google by setting aside four\u2026 <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>By Jason Xue and Tom Westbrook SHANGHAI\/SINGAPORE (Reuters) \u2013 Investors are piling into China\u2019s tech, media and telecom shares, with speculative bets\u2026 <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>MILAN (Reuters) \u2013 Italy\u2019s top commercial broadcaster MFE-Mediaforeurope said on Wednesday its unit Mediaset had partnered up with Facebook owner Meta Platforms\u2026 <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>LONDON (Reuters) \u2013 On-demand services from Britain\u2019s BBC, ITV and other public service broadcasters must remain easy to find on smart TVs\u2026 <\/p>\n<\/p><\/div>\n<p><\/body><\/html><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Douglas Gillison (Reuters) \u2013 Republican lawmakers on Wednesday prodded Wall Street\u2019s top regulator to justify his agency\u2019s efforts to regulate companies\u2019 climate disclosures and criticized the U.S. Securities and Exchange Commission for what they said was hasty rulemaking. In an appearance before a House of Representatives panel overseeing federal spending, SEC Chair Gary Gensler<\/p>\n","protected":false},"author":66,"featured_media":1906930,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[542],"tags":[4321,4726,3673,4604,10520,6610,4354],"class_list":["post-1906929","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-oann","tag-climate","tag-coming","tag-lawmakers","tag-press","tag-regulator","tag-rule","tag-wall"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1906929","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1906929"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1906929\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1906930"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1906929"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1906929"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1906929"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}