New SEC Exam Chief Eyes Asset Managers’ Regard for Climate Risks

The SEC is scrutinizing how big investment firms are looking at their climate change risks, a senior agency official said.

Daniel Kahl, the Securities and Exchange Commission’s incoming examinations chief, didn’t identify any asset managers the agency is targeting. His remarks came in a pre-recorded session released Thursday at a Securities Industry and Financial Markets Association conference.

But the SEC has its eye on “systemically large firms” as part of its inspection work related to environmental, social, and governance issues, he said. Kahl is the deputy director of the agency’s Division of Examinations and is set to become the acting ...