by Steve Milloy, E&E Legal Senior Policy Fellow and Junkscience.com Founder
As Appearing in the Washington Times
The U.S. Securities and Exchange Commission (SEC) recently announced it was taking action to curb false and misleading statements by publicly-owned companies.
While this seems like a promising development on its face, there’s good reason to believe this is a Biden administration effort to weaponize the SEC for the purpose of advancing its climate agenda.
On March 4, the SEC announced that its Division of Enforcement, the part of the agency that polices companies for fraud, was establishing a Climate Task Force. The ostensible purpose is to “identify any material gaps or misstatements in issuers’ disclosure of climate risks under existing rules.”
There are two problems with this mission.
First, publicly-owned companies registered with the SEC have always been required to fully disclose all significant risks to business, whether from standard business and market risks to government regulation, to litigation and even to natural disasters, including those caused by weather.
