Haynes Boone Partner Kurt Gottschall spoke with Law360 after the U.S. Securities and Exchange Commission announced on its website Thursday that it did not intend to finalize 14 different rules proposed between March 2022 and November 2023 from the Biden administration on cybersecurity risk management, environmental disclosures and equity market reform,
Gottschall said the withdrawal of the proposals "did not come as a surprise."
"When these proposed rules were not finalized in the past administration, most industry participants assumed they would not see the light of day," he told Law360.
"The rule withdrawal also indicates that the commission wants to rethink the past approach to cybersecurity risk management requirements and that it likely has zero interest in ESG-related disclosure," Gottschall added.
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