Edward Jones, Raymond James and four other investment firms have lent their support to a Wall Street group’s lawsuit contesting environmental, social and governance investing restrictions in Missouri.
The firms are members of the Securities Industry and Financial Markets Association, which sued Missouri officials in August over ESG rules it said are burdensome and interfere with federal regulatory authority. The rules require the investment firms to obtain Missouri clients’ written consent before using any “social and/or nonfinancial objectives” when investing, the firms noted in statements SIFMA submitted to the US District Court for the Western District of Missouri on Monday. ...
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