Trade Association Files Federal Suit Challenging Missouri’s New ESG Rules

(August 24, 2023, 3:21 PM EDT) -- JEFFERSON CITY, Mo. — Asserting claims including preemption by the National Securities Markets Improvement Act of 1996 (NSMIA) and the Employee Retirement Income Security Act of 1974, a trade association has asked a Missouri federal court for declaratory and injunctive relief over new Missouri rules requiring “a state-authored script” for “incorporating a social or nonfinancial objective into investment advice.”...