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Wall Street’s Lawyers Attack SEC Effort to Crush Greenwashing

The proposals are “overbroad,” “unworkable,” and far too vague, they say.

Last Day Of Trading For 2021 On Floor Of NYSE
Photographer: Michael Nagle/Bloomberg

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The US Securities and Exchange Commission came out last week with its most-aggressive plan yet to stamp out greenwashing in the financial industry. Specifically, the agency is targeting those funds that have been raking in billions of dollars marketing themselves as dutiful stewards of environmental, social and governance principles.