Thomson Reuters recently published an accounting & compliance alert (here) noting the following.

• Representative Bill Huizenga of Michigan signaled a new working group "will lean heavily into the Supreme Court's 2022 ruling in West Virginia v. EPA to argue that the SEC has gone beyond its statutory authority with the proposed [climate] rules, set to be finalized this spring…. The working group will examine how to 'rein in the SEC's regulatory overreach' and reinforce the materiality standard in the disclosure regime, as well as 'hold to account market participants who misuse the proxy process or their outsized influence to impose ideological preferences in ways that circumvent democratic lawmaking,' according to a news release." 

• "Senator Marco Rubio on Feb. 2 announced his 'anti-woke agenda' for the 118th Congress, including the Mind Your Own Business Act that would enable shareholders to more easily sue public companies over socially-driven actions, such as refusing to do business in states that crack down on abortion or restrict voting rights." [FWIW, I suspect that Sen. Rubio might replace "refusing to do business in states that crack down on abortion or restrict voting rights" with "refusing to do business in states that protect the lives of the unborn or defend the integrity of our voting system."]

• "Senator Mike Braun of Indiana on Feb. 1 announced plans to launch a Congressional Review Act (CRA) resolution seeking to nullify the Department of Labor's recent rules clearing barriers to ESG investing and proxy voting for retirement plan fiduciaries, alongside 49 other senators, with Representative Andy Barr of Kentucky introducing the resolution in the House."