5th Circuit: States Lack Standing For Review Of SEC Vote Disclosure Rule

(May 14, 2024, 2:44 PM EDT) -- NEW ORLEANS — A panel of judges in the Fifth Circuit U.S. Court of Appeals dismissed without prejudice a request by four states to review a Securities and Exchange Commission rule that will require investment funds to disclose proxy voting records on issues related to environmental, social and governance (ESG) matters, determining that the states lack standing because they failed to show how investors in their states would suffer an economic injury as a result of the rule....