SEC Withdraws Diversity Guidance
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asset manager diversityFinancial Planning
•Business
Business & Economics
SEC scrubbed guidance on DEI in asset manager selection from website
88% Informative
The Securities and Exchange Commission has purged guidance from its website regarding fund manager diversity.
That pullback comes as part of the Trump administration's executive orders targeting "DEI" programs.
The way forward after small but notable progress in opportunities for women and minority financial professionals looks anything but clear.
" ESG is flourishing globally. It's just the political will and megaphone that is fighting against it so much, so vocally," one analyst says.
GAO : SEC took down guidance about "investment advisers' consideration of DEI factors" based on Trump 's executive orders.
The GAO report says the move is "definitely a move in the wrong direction" by the SEC .
Still available are the "Diversity self-assessment tool" and a statement praising the now-purged guidance.
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