Rep. Andy Barr, a Kentucky Republican on the House Financial Services Committee, has plenty of ideas. Here’s a bit from my new Bloomberg Opinion column:
“First we are going to focus on FTX as Exhibit A of the fraud of ESG,” says Barr. “Ratings for ESG are one of the things we’re going to be looking at. TruValue Labs gave FTX a higher grade on leadership and governance than Exxon Mobil. That’s even though FTX had only three board members.”
Oversight of the SEC will also be intensive, and will proceed in tandem with litigation. Last summer, in West Virginia v. EPA, the Supreme Court reduced the amount of deference it shows agencies when they interpret the laws that grant them power. That’s bad news for regulatory adventurism at the SEC, Barr believes . . .