SEC Proxy Vote Reporting Rules Survive Court Challenge (1)

A federal appeals court left intact Securities and Exchange Commission rules that boost disclosures about fund votes on ESG proposals at company annual meetings.

Texas and other Republican states that brought the challenge don’t have legal standing to seek review of the rules, the US Court of Appeals for the Fifth Circuit said in a Friday ruling. The court said the states didn’t show they’d be harmed by the rules.

The decision is a win for the SEC, which has seen several of its rules under Chair Gary Gensler challenged in federal courts. The states argued the proxy ...