Finance

U.S. SEC chair planing new workforce data disclosures for public companies By Reuters

2/2
© Reuters. FILE PHOTO: The U.S. Securities and Exchange Commission logo adorns an office door at the SEC headquarters in Washington, June 24, 2011. REUTERS/Jonathan Ernst//File Photo

2/2

By Katanga Johnson

WASHINGTON (Reuters) – The U.S. Securities and Exchange Commission (SEC) plans to propose a rule requiring that public companies disclose a range of workforce data as the agency steps up environmental, social and governance (ESG) disclosures, its new chair, Gary Gensler, said on Thursday.

Gary Gensler told an audience of agency and academic researchers that “investors increasingly want to understand information about…one of the most critical components of companies, their workforce.”

He said staff would propose a new rule on disclosing the workforce or “human capital” metrics. Those disclosures could include data on issues such as workforce diversity, part-time versus full-time workers, and employee turnover, according to advocacy groups that have been pushing for the new rules.

“This is one of my top priorities and will be an early focus during my tenure at the SEC,” Gensler told the gathering.

The SEC is ramping up its ESG agenda to execute on Democrats’ priorities to address issues such as climate change and social injustice. Gensler has previously said the agency was also planning a new climate change disclosure rule.

Earlier this year, former acting SEC chair Allison Lee launched https://www.reuters.com/article/us-usa-climate-sec/u-s-regulator-launches-review-of-companies-climate-risk-disclosures-idUSKBN2AO2LZ a review of public companies’ climate risk disclosures to help SEC staff modernize the agency’s decade-old climate guidance.

Advocacy groups had been pushing the SEC to provide more useful ESG disclosures after former Republican President Donald Trump’s regulators eroded investors’ access to material disclosures and their ability to push for ESG measures.

Gregg Gelzinis, a senior analyst at Washington-based Center for American Progress, said that while climate risk should be a priority, the SEC shouldn’t forget about social issues and governance.

“Investors need reliable, consistent, and comparable information on a range of other issues, including political spending, human rights, human capital management, diversity and inclusion, international taxes, gender and executive pay ratios, and more.”

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.


Most Related Links :
Business News Governmental News Finance News

Need Your Help Today. Your $1 can change life.

[charitable_donation_form campaign_id=57167]

Source link

Back to top button