Free Republic

The U.S. Securities and Exchange Commission (SEC) on Thursday announced it will stay implementation of its final rule requiring companies to disclose their climate-related risks pending the results of a legal challenge from GOP-led states. The SEC said in its ruling the stay does not indicate an abandonment of the rule, which it will continue to defend against a court challenge from Republican attorneys general. “The Commission has determined to exercise its discretion to stay the Final Rules pending the completion of judicial review of the consolidated Eighth Circuit petitions,” the agency said in its order. “[The] Commission will continue...

West Virginia Attorney General Patrick Morrisey said the SEC is exceeding the authority Congress granted it to be a financial regulator. More than half the states in the U.S. filed lawsuits this month against the Securities and Exchange Commission over the climate disclosure rules it finalized last week. On top of state lawsuits, the SEC is facing legal challenges from companies, nonprofits and business advocacy groups. A U.S. appeals court on Friday temporarily paused the new rules. The New Orleans-based 5th U.S. Circuit Court of Appeals granted a request from Liberty Energy Inc. and Nomad Proppant Services LLC to put...