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ARTICLE · 29 JULY 2022

A Diffuse Mission For The SEC's Climate And ESG Task Force?

Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C.
Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C.
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Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C.

Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C.

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On July 20, 2022 the SEC issued a press release concerning the resolution of an administrative proceeding in which the defendants "violated certain antifraud and reporting provisions...

United StatesCorporate/Commercial Law
Jacob Hupart
Jacob Hupart
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On July 20, 2022 the SEC issued a press release concerning the resolution of an administrative proceeding in which the defendants "violated certain antifraud and reporting provisions of the federal securities laws and [] profited by selling [] stock when it was inflated as a result of the misconduct." Specifically, the alleged misconduct was in connection with "false[]" statements to investors regarding "high compliance standards" and "very few consumer complaints" related to the "short-term and limited health insurance products" offered by the defendants. There is nothing especially surprising about this enforcement action, which is squarely within the SEC's typical remit.

However, one item about the press release was surprising: it specifically stated that "[t]he Division of Enforcement's Climate and ESG Task Force provided assistance in this matter." This statement in an SEC press release concerning an enforcement action is highly unusual. Since the beginning of

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