"The SEC will have the power, under Democratic control, to mandate corporate disclosures on diversity and climate change risks, police more of Wall Street, and reverse recent efforts to ease capital raising in private markets in the coming years.
President-elect Joe Biden has made addressing racial equity and climate change priorities for his administration, saying he’d require companies to disclose climate risks and the racial and gender composition of their boards.
Commissioner Allison Lee, the Securities and Exchange Commission’s most senior Democrat, frequently has called for more environmental, social, and governance disclosures from companies. Democrats have also said that SEC enforcement under Chairman Jay Clayton went easy on big banks and other large corporations, and that the agency didn’t do enough to protect retail investors through its rules and policies."
Andrew Ramonas reports for Bloomberg November 12, 2020.
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