SEC Forms Enforcement Task Force for Climate and ESG Issues

SEC Forms Enforcement Task Force for Climate and ESG Issues

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The SEC has created a new enforcement task force that will focus on climate and ESG issues.

The Climate and ESG Task Force will work to develop initiatives that proactively identify ESG-related misconduct, and coordinate the effective use of division resources, including the use of data analysis to mine and assess information across registrants, and identify potential violations.

“The initial focus will be to identify any material gaps or misstatements in issuers’ disclosure of climate risks under existing rules,” says the release from the SEC. “The task force will also analyze disclosure and compliance issues relating to investment advisers’ and funds’ ESG strategies.“

Kelly Gibson, the Acting Deputy Director of Enforcement, will lead the task force, which includes 22 members drawn from the SEC’s headquarters, regional offices, and enforcement specialized units.

“Proactively addressing emerging disclosure gaps that threaten investors and the market has always been core to the SEC’s mission,” said Gibson in the release. “This task force brings together a broad array of experience and expertise, which will allow us to better police the market, pursue misconduct and protect investors.”

Read the SEC’s full release here.

 

 

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Darren Mooney

Partner and Co-Head of Business Development

Darren Mooney is a Partner and the Co-Head of Business Development at Greyline. Before joining Greyline, Darren served as deputy chief compliance officer of Partner Fund Management where he held primary responsibility for the compliance program of the second-largest hedge fund in the Bay Area. Prior to that, Darren spent five years providing compliance consulting services at Cordium and then ACA Compliance Group, where he led the company’s San Francisco office and west coast operations. In addition to providing ongoing consulting services to a variety of investment managers, including hedge fund, private equity, venture capital, real estate, quantitative and other wealth managers, Darren also regularly guided clients through the SEC registration process, implemented tailored compliance programs, supported clients’ live SEC exams, and served as an SEC-mandated independent compliance consultant following an SEC enforcement action. Darren’s other experience includes serving as deputy chief compliance officer and associate counsel at F-Squared Investments where he directly supported the compliance program during the investigation and subsequent enforcement regarding historical advertising practices. Darren has a B.S. in Economics from the University of Delaware and a J.D. from Suffolk University Law School. He is a member of the Massachusetts bar.

Annie Kong

Partner and Head of Venture Capital
Annie Kong is a Partner and Head of the Venture Capital Division at Greyline. She provides ongoing compliance consulting to investment advisers and manages client relationships. Prior to joining Greyline, Annie was part of compliance and operations at a long-only manager-of-managers that advised pension fund clients. While there, she conducted compliance and operational due diligence on SEC-registered investment advisers on the platform. She also oversaw and counseled on various legal matters across the firm. Annie has a B.A. in Economics from the University of California, San Diego, and a J.D. from the University of San Diego School of Law. She is an active member of the State Bar of California.
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