A new restrictive anti-ESG law going into effect July 1 in Florida requires investment managers to certify to the state each year that they are making investments based only on financial factors, or they could face sanctions.
In an S&P Global article, Josh Lichtenstein, a partner in the employment, executive compensation and employee benefits group and head of the firm’s ERISA fiduciary practice, explains that divergent and changing policies have become a growing challenge for financial firms that must fundraise across Democratic and Republican-led states. He notes that asset managers today spend much of their time and energy just trying to adapt their pitches in a culturally divided market.
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