Ralph Norman: “This is just another long list that you have witnessed today and really all through this administration of bureaucratic…”

“This is just another long list that you have witnessed today and really all through this administration of bureaucratic overreach and fines to administer on the taxpayer. What my amendment does is prohibit use of funds to implement, finalize, or enforce a proposed rule titled: ``Enhanced Disclosures by Certain Investment Advisers and Investment Companies About Environmental, Social, and Government Investment Practices.'' On May 25, 2022, the SEC proposed rules that mandate additional disclosures for funds incorporating or contemplating ESG factors in their investment strategies. If adopted, the rule would reflect a significant shift in the SEC's current disclosures regime for private fund sponsors by focusing disclosure on a particular targeted aspect of the investment process. The primary purpose of this rule is to address the risk of greenwashing and furnish investors with more comprehensive information regarding ESG strategies. Mr. Chair, I reserve the balance of my time.”