Is the SEC Quietly Slipping Behind the Scenes, Delaying Compliance to Rig the Game?
Also, the climate disclosure rule is still final and has yet to be repealed. Any attempt to change or repeal the rule must still comply with the Administrative Procedure Act, which “requires justification of the change with substantial facts and legal analysis in an administrative record that is sufficient to withstand scrutiny,” Eversheds Sutherland said.
In an ironic twist, the recent Supreme Court decision Loper Bright Enterprises v. Raimondo may make it more difficult for the SEC to repeal rules that its current leadership does not support. But practically speaking, Eversheds Sutherland said the agency does not need to repeal the rules to prevent them from taking effect: “The SEC can simply prolong the stay of the rules’ effectiveness.”
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