Show-Me Fed Judge Bough Striking Down 'ESG' Investing New Rules

This decision didn't get a lot of play but it's important . . . 

To define terms: 

ESG stands for environmental, social, and governance. ESG investing refers to how companies score on these responsibility metrics and standards for potential investments.

It's not as catchy as outage against DEI but Missouri politicos were temporarily successful against pushing back against corporate priorities until this week's decision.

Check-it . . .

"U.S. District Judge Stephen Bough in Kansas City agreed with a trade group, the Securities Industry and Financial Markets Association, that the 2023 rule was invalid because it imposed requirements on investment banks and broker-dealers that do not exist in federal law.

"The rule issued by Missouri Secretary of State Jay Ashcroft would require investment advisers who consider ESG objectives, such as combating climate change or supporting a social movement, to disclose them to customers and obtain their consent.

"Bough said that along with its conflicts with federal law, Missouri's rule violated the free-speech rights of investment advisers and was so vague that it could not be enforced under the U.S. Constitution."

Read more via www.TonysKansasCity.com link . . .

US Judge Blocks Missouri Rule Curbing Socially-Conscious Investing

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