Congressman Bill Huizenga (R-MI) expressed strong criticism in response to the Securities and Exchange Commission's (SEC) finalized rule requiring climate-related risk disclosures.
"Today’s announcement on climate-related risk disclosures confirms one thing, the SEC’s destructive regulatory agenda continues to hit new lows," stated Congressman Huizenga. He further added, "Investors should realize this overreach by the SEC will significantly hurt our economy while serving as boon for special interests and far-left activists."
Moreover, Congressman Huizenga raised concerns about the SEC's process, stating, "Additionally, by substantially changing this rule from its original proposal, it appears the SEC will be in direct violation of the Administrative Procedures Act and breaking federal law if it does not reopen the required comment period."
In conclusion, Congressman Huizenga highlighted the potential implications of the SEC's actions, warning that "Unless he radically alters his approach to our capital markets, Gary Gensler’s legacy will be an overzealous bureaucrat who was repeatedly reined in by the courts."
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