The U.S. Securities and Exchange Commission (SEC) looks set to intensify focus on crypto-assets and cyber risk and extended the comment period on the proposed rules to enhance and standardize climate-related disclosures for investors.
The proposed rules on climate risk disclosures require registrants to provide certain climate-related information in their registration statements and annual reports, including information about climate-related financial risks and financial metrics in their financial statements and disclosure of registrants greenhouse gas emissions. The comment period has been extended from May 20, 2022 to June 17, 2022. The extended period will allow interested persons additional time to analyze the issues and prepare their comments, which would benefit SEC in its consideration of final rules.
With respect to its Crypto Assets and Cyber Unit, which is responsible for protecting investors in crypto markets and from cyber-related threats, SEC added 20 additional positions. The expanded Crypto Assets and Cyber Unit will leverage the agency’s expertise to ensure investors are protected in the crypto markets, with a focus on investigating securities law violations related to crypto asset offerings, crypto asset exchanges, crypto asset lending and staking products, decentralized finance platforms, non-fungible tokens, and stablecoins. The Unit has brought numerous actions against SEC registrants and public companies for failing to maintain adequate cybersecurity controls and for failing to appropriately disclose cyber-related risks and incidents.
- Press Release on Climate Rules
- Notice on Comment Period Extension (PDF)
- Press Release on Crypto Assets and Cyber Unit
Keywords: Americas, US, Banking, Securities, ESG, Climate Change Risk, Disclosures, TCFD, Crypto-Assets, Cyber Risk, Decentralized Finance, Stablecoins, Non-Fungible Tokens, Regtech, SEC
Dr. Denton provides industry leadership in the quantification of sustainability issues, climate risk, trade credit and emerging lending risks. His deep foundations in market and credit risk provide critical perspectives on how climate/sustainability risks can be measured, communicated and used to drive commercial opportunities, policy, strategy, and compliance. He supports corporate clients and financial institutions in leveraging Moody’s tools and capabilities to improve decision-making and compliance capabilities, with particular focus on the energy, agriculture and physical commodities industries.
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