3235-AM96 202410 The Regulatory Plan and the Unified Agenda of Federal Regulatory and Deregulatory Actions 3235 Securities and Exchange Commission SEC Enhanced Disclosures by Certain Investment Advisers and Investment Companies about Environmental, Social, and Governance Investment Practices

The Division is considering recommending that the Commission adopt requirements for investment companies and investment advisers related to environmental, social and governance (ESG) factors, including ESG claims and related disclosures.  Among other things, the Commission proposed to amend rules and forms under both the Investment Advisers Act of 1940 and the Investment Company Act of 1940 to require registered investment advisers, certain advisers that are exempt from registration, registered investment companies, and business development companies, to provide additional information regarding their ESG investment practices. The proposed amendments to these forms and associated rules seek to facilitate enhanced disclosure of ESG issues to clients and shareholders. The proposed rules and form amendments are designed to create a consistent, comparable, and decision-useful regulatory framework for ESG advisory services and investment companies to inform and protect investors while facilitating further innovation in this evolving area of the asset management industry. 

]]> Substantive, Nonsignificant Previously Published in The Unified Agenda Final Rule Stage Undetermined No 17 CFR 200.800 17 CFR 230.497 17 CFR 232.11 17 CFR 232.405 17 CFR 239.15A and 274.11A 17 CFR 239.14 and 274.11a-1 17 CFR 239.19 17 CFR 274.12 17 CFR 249.330 and 274.101 17 CFR 249.331 and 274.128 17 CFR 279.1 17 CFR 230.485 17 CFR 239.16 15 U.S.C. 77e 15 U.S.C. 77f 15 U.S.C. 77g 15 U.S.C. 77j 15 U.S.C. 77s 15 U.S.C. 78m 15 U.S.C. 78o 15 U.S.C. 78w 15 U.S.C. 78ll 15 U.S.C. 80a-8 15 U.S.C. 80a-24 15 U.S.C. 80a-29 15 U.S.C. 80a-37 15 U.S.C. 80b-3 15 U.S.C. 80b-4 15 U.S.C. 80b-11 44 U.S.C. 3506 and 3507 ... No NPRM 06/17/2022 87 FR 36654 NPRM Comment Period End 08/16/2022 NPRM Comment Period Reopened 10/18/2022 87 FR 63016 NPRM Comment Period End 11/01/2022 Final Action 10/00/2025 YES Businesses None No Yes No Zeena Abdul-Rahman Branch Chief, Division of Investment Management 3235 Securities and Exchange Commission SEC 202 551-4099 abdulrahmanz@sec.gov 100 F Street NE, Washington DC 20549