Byron Donalds: “Full disclosure, I actually do not sit on the Financial Services Committee, but my career has actually been in financial…”

“Full disclosure, I actually do not sit on the Financial Services Committee, but my career has actually been in financial services. I spent the last 17 years of my life working in banking, insurance, and financial services. I understand the importance of protecting investors and ensuring fairness in the market, which is part of the mission of the SEC. In fact, it was so important to me that during my time in the Florida legislature, I introduced legislation that was designed to protect vulnerable investors, and that legislation has actually become law in the State of Florida. H.R. 1187 is inconsistent with the mission of the SEC. It does not protect investors; it is not fair or efficient. It is the exact opposite. It is nothing more than a government-run litmus test that politicizes the SEC and contradicts the very important mission of the SEC. Mandating public companies to disclose details that are not financially relevant or material is an abuse of power. Not to mention, we see companies who are willing to disclose this information on their own, and they are taking steps to address some of the issues that my friends on the other side of the aisle might want to mandate. Just the other day, Ralph Lauren came out and they said they were going to publicly disclose this information.…”