George Raine and Joshua Lichtenstein Examine ESG Issues in Financial Times and Bloomberg News

In The News
October 28, 2022

In the Financial Times, asset management partner George Raine commented on the U.S. Securities and Exchange Commission proposed measures to tighten restrictions on naming conventions for mutual fund, such as claiming to rely on environmental, social and governance investing factors, by requiring funds to impose policies that 80 percent of their holdings match their names.

George notes a potential complication with part of the rule that gives funds out of compliance with the 80 percent rule 30 days to remedy the situation. He explains that if prices move violently it could become a stability risk if several mutual funds have to sell or buy.

In Bloomberg News, ERISA and benefits partner Joshua Lichtenstein discussed the Florida law barring state pension funds from incorporating ESG into investment decisions.