SEC’s planned new ‘woke’ rules creating cost concerns for business leaders

Sources tell FOX Business’ Charlie Gasparino that Gensler tells CEOs he plans to pass new requirements along party lines, Dems outnumber GOP 3-2.

Business groups are trying to calculate just how much money public companies might have to shell out to comply with the Securities and Exchange Commission’s planned new “woke” corporate disclosure rules, and initial estimates aren’t pretty. 

FOX Business has discussed the costs with Wall Street executives, analysts and think tank leaders, and while no exact estimate can be determined, the SEC’s new disclosure mandates involving everything from the environment to board diversity is likely to cost U.S. public companies well into the billions of dollars. 

Securities and Exchange Commission Chair Gary Gensler, known for his progressive leanings, has put at the top of the commission’s voting agenda new rules that will mandate disclosing information on so-called ESG or Environmental, Social,…

Read more…