US financial regulators drop plans for new rules on private funds and climate risk

The US Securities and Exchange Commission has formally withdrawn several proposed rules. This means new regulations on private funds, climate risk disclosures, and other areas will not move forward.

The SEC had proposed rules that would have forced private equity firms to disclose more about their fees and performance. It also wanted public companies to report their climate-related risks and emissions. These proposals were controversial and faced strong opposition from industry groups. Their withdrawal means these industries will not face new compliance costs or transparency requirements for now.