Brian Daly Quoted in Private Equity Law Report
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Private Equity Law Report in its article “Core Features of the SEC’s Proposed ESG Rules and the Ethos Driving Its Release,” quoted Akin Gump investment management partner Brian Daly.
The article discusses the Securities and Exchange Commission’s (SEC) proposed rules on fund manager categorization of their environmental, social and governance (ESG) investment efforts and disclosures on their Forms ADV.
Daly is quoted as noting that reviewing pages 353 to 362 of the SEC’s proposal will help anyone who is “a few weeks behind the curve” to answer 70 percent of their questions.
The article notes that the proposed rules on ESG do not define “ESG.” Daly said that this failure introduces material issues for enforcing the proposal’s requirements: “In effect there is an implicit acknowledgment that E, S and G do have generally accepted definitions because otherwise how could you make disclosures if there’s not at least a shared sense of what those terms mean?”
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