SEC Announcement: https://www.sec.gov/news/press-release/2023-155
The benefits of the new SEC rules on private funds - which require private funds to provide transparency to their investors regarding the fees and expenses and other terms of their relationship with private fund advisers and the performance of such private funds - substantially exceed their costs.
The new SEC rules will have a substantially negative impact on the industry by stifling capital formation and reducing competition.
It is appropriate policy for the SEC to impose such rules on private funds even though the investors (limited partners) are sophisticated entities.
The EU's taxonomy for sustainable activities - a classification system that defines criteria for economic activities that are aligned with a net zero trajectory by 2050 and the broader environmental goals other than climate - is an effective way to steer greener investment and the energy transition by firms and financial institutions.
Details on the taxonomy are here:
https://finance.ec.europa.eu/sustainable-finance/tools-and-standards/eu-taxonomy-sustainable-activities_en
Use of the EU taxonomy for sustainable activities is likely to stifle important innovations, including in green technology.
On balance, use of the taxonomy in EU directives and regulation is likely to be net beneficial to European citizens.
