President Biden has set out a bold commitment to empower workers and communities, protect public health and the environment, and conserve national treasures. To do so, private capital must be engaged, but unfortunately, harmful regulations leftover from the previous administration would hold us back. The five regulations listed below strip investors of key tools for considering long-term material factors, undermining the administration’s pursuit of social, economic and environmental justice. In accordance with President Biden’s recent Executive Order, we urge the administration to consider rescinding the regulations outlined in this factsheet prepared by the Alliance. We need a regulatory framework that reflects an inclusive 21st century economy – one that creates value for workers, families and communities.
U.S. Department of Labor, RIN 1210-AB95, “Financial Factors in Selecting Plan Investments”
U.S. Department of Labor, RIN 1210-AB91, “Fiduciary Duties Regarding Proxy Voting and Shareholder Rights”
U.S. Securities and Exchange Commission, RIN 3235-AM50, “Exemptions From the Proxy Rules for Proxy Voting Advice”
U.S. Securities and Exchange Commission, RIN 3235-AM49, “Procedural Requirements and Resubmission Thresholds under Exchange Act”
U.S. Treasury Department, Office of the Comptroller of the Currency, RIN 1557-AF05, “Fair Access to Financial Services”