Business Roundtable urges court to vacate SEC's climate disclosure rule

Client(s) Business Roundtable

Jones Day represented Business Roundtable in filing an amicus brief in the U.S. Court of Appeals for the Eight Circuit challenging the Securities and Exchange Commission's (SEC) climate disclosure rule. In the brief, the Roundtable argues that the SEC lacks statutory authority to issue a rule of this extraordinary breadth and scope. The Roundtable also contends that the rule compels the disclosure of information far beyond the traditional definition of materiality. Additionally, the Roundtable states that the SEC did not adequately account for the costs associated with the rule, a necessary prerequisite for SEC rulemaking.