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Gary Gensler the chair of the SEC discusses the recent proposal for climate reporting and a brief history on long tradition the SEC has in disclosure and its relevance to climate related disclosures.
Over the generations, the SEC has stepped in when theres significant need for the disclosure of information relevant to investors decisions……………..
In making decisions about disclosure requirements under the federal securities laws—including decisions about the proposed climate-related disclosures—I am guided by our three-part mission: to protect investors, maintain fair, orderly, and efficient markets, and facilitate capital formation. I also am guided by the concept of materiality. As the Supreme Court has explained, information is material if there is a substantial likelihood that a reasonable shareholder would consider it important†in making an investment or voting decision, or if it would have significantly altered the total mix of information made available.â€[1] Forward-looking statements, such as forecasts and risks, also can be material, as standards by both the Supreme Court[2] and the Commission[3] have articulated.
Does the recent cybersecurity risk management proposal issued by the SEC fall into the 3 part mission?
Ted Dziekanowski
#cybersecurity #cyberriskmanagement #sec #cyberregulation #compliance
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