Louisiana Attorney General Liz Murrill’s Office filed a lawsuit against the Securities and Exchange Commission (SEC) on Thursday, March 7, over regulatory overreach seeking to advance the Biden Administration’s climate-change agenda.
On March 6, the SEC voted to adopt regulations that force companies to gather and publicly disclose climate-related information and risks to the agency.
The SEC is supposed to focus on financial issues -- not climate activism. Yet the Biden Administration is twisting the boundaries of this institution to achieve its desired end at the expense of American business.
“The Biden Administration’s ill-advised war on hard-working Americans continues. Not only do these disclosure requirements fall outside of the Commission’s authority and violate the First Amendment, but they also drive up business costs, which will then be passed on to the consumers,” said General Murrill.
Louisiana is leading a suit at the Fifth Circuit, joined by Mississippi and Texas, which challenges this latest example of unlawful regulatory overreach.
Original source can be found here.