Lawmakers push for stronger scrutiny of climate change disclosures.
On October 29, Democrats in Congress urged the SEC to step up its effort to make sure that public companies disclose the risks they face from more damaging storms and rising temperatures and sea levels. “The effects of climate change can pose material and evolving challenges for many companies and investors deserve access to complete and accurate information,” said the letter's lead author, Senator Jack Reed (D-R.I.), a senior member of the Senate Banking Committee. “Our markets work best when investors have access to reliable information, and we should have every confidence that the SEC is robustly enforcing the disclosure regulations on the books.”
JOBS Act crowdfunding rules approved.
On October 30, the SEC approved its crowdfunding rules under the JOBS Act, opening the doors for startups to raise equity financing online through groups of investors. The decision comes two years after the rules were proposed, and are scheduled to become effective six months after they are published in the Federal Register. Funding portals, which will be used to sell securities to investors, have until January 29, 2016, to register with the SEC.