Legal pushback prompts SEC to stay climate-related disclosure rule

SEC

The Securities and Exchange Commission (SEC) delayed implementation of its climate-related disclosure rule until the courts can rule on appeals filed in response to the controversial policy.

The SEC issued a stay of the rule Thursday, acknowledging such requests contained in appeals by two fracking companies and a number of business groups. The cases have been consolidated into the U.S. Court of Appeals for the Eighth Circuit.

A previous stay of the rule issued March 15 by the U.S. Court of Appeals for the Fifth Circuit was already lifted before the SEC made its announcement.

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