The Club for Growth Foundation is requesting that the SEC issue a Notice of Supplemental Rulemaking and reopen the public comment period for its proposed rule that would require public companies to submit enhanced and standardized Environmental, Social, and Corporate governance information (“ESG Rule”).
The U.S. Supreme Court’s recent decision in the West Virginia v. EPA case restricts the rulemaking authority of administrative agencies by applying a number of factors that should be considered when a proposed rule implicates a major policy question. Well-established law requires that agencies offer a sufficient rationale for a rule to permit interested parties to comment meaningfully.
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