Investor demand is pushing the Securities and Exchange Commission to craft additional public company disclosure requirements on a variety of issues, Chairman Gary Gensler told lawmakers Tuesday.
"Today's investors are increasingly looking for consistent, comparable and decision-useful disclosures around climate risk, so-called human capital, cybersecurity and other areas," Mr. Gensler said before the Senate Banking Committee, in his first congressional testimony since taking office in April. "So I've asked staff to develop proposals for the commission's consideration on these potential disclosures."
Mr. Gensler said any additional disclosures will be put out for public comment before taking effect.
Democrats on the committee welcomed the potential for added disclosures, including Chairman Sherrod Brown, D-Ohio. "Increasing people's trust and faith in the market and the financial system will lead to more saving and broader participation," Mr. Brown said.