Securities Officials Back Missouri in Row Over State’s ESG Curbs

Securities regulators on Tuesday pushed a federal judge to support Missouri in a dispute over whether the state’s constraints on environmental, social, and governance investing inappropriately usurp federal law.

Missouri’s 2023 ESG rules are compatible with US law that divvies up regulatory responsibilities between the Securities and Exchange Commission and states, the North American Securities Administrators Association told the US District Court for the Western District of Missouri. The group represents officials in all 50 states, as well as the District of Columbia and US territories.

The rules require asset managers to get written consent from their Missouri clients before ...