On March 4, 2021, the SEC announced a new Task Force in the Division of Enforcement. The 22-member team led by Kelly L. Gibson (the Acting Deputy Director of Enforcement) will focus on climate and environmental, social, and governance (ESG) investing. Satyam Khanna, the Senior Policy Advisor, will advise the agency on ESG and related new initiatives across its divisions. As mentioned in the press release, the team will work on:
- Proactively driving the identification of ESG-related misconduct.
- Effectively using Division resources such as sophisticated data analysis. The analysis mines and assesses information across registrants to identify potential violations.
- Identifying gaps or misstatements in issuers’ disclosure of climate risks, not in compliance with the existing rules.
- Analyzing disclosure and compliance issues relating to investment advisers’ and funds’ ESG strategies.
- Evaluating and pursuing all ESG-related tips, referrals, and whistleblower complaints.
- Provide expertise and insight to teams working on ESG-related matters across the Division.
“Climate risks and sustainability are critical issues for the investing public and our capital markets,” said Acting Chair Allison Herren Lee. “The task force announced today will play an important role in enhancing and coordinating the efforts of the Division of Enforcement, the Office of the Whistleblower, and other parts of the agency to bolster the efforts of the Commission as a whole on these vital matters.”
The agency’s actions and the latest information about climate and environmental, social, and governance (ESG) investing are available on a new page launched by the SEC. The page appears on the front page of SEC.gov as a response to the increased investor demand.Click here to access the webpage.
The agency invites any ESG related tips, referrals, and whistleblower complaints that can be submitted here