Compliance Hot Spots: GOP Eyes ESG as an Antitrust Issue + Another DOJ Crypto Seizure + Sidley Partner Jumps to Main Justice
Republican senators sent letters to Big Law ESG practices warning that they would target "collusive" conduct between firms on environmental issues.
November 09, 2022 at 03:15 PM
9 minute read
Welcome to Compliance Hot Spots, our weekly snapshot on white-collar, regulatory and compliance news and trends. As Washington waits on tenterhooks to find out which party will control Congress next year, we take a closer look at an issue increasingly targeted by Republicans: ESG. GOP senators sent letters to Big Law last week warning of antitrust consequences for some practices. Plus, a Sidley Austin partner and SDNY veteran joins Main Justice, and a look at who's representing former MoviePass executives in a major securities fraud case. Contact me at [email protected] and @agoudsward on Twitter.
A personal note: Today will be my last time writing the Compliance Hot Spots newsletter. I will be starting a new reporting role shortly. It's been a privilege to bring you the latest developments in government enforcement and compliance each week. Thank you for following our coverage.
Credit: Blue Planet Studio/Adobe Stock Senate Republicans Seek to Make ESG an Antitrust Issue
Republican senators, feeling their oats ahead of what was expected to be a decisive GOP victory in the midterm elections, penned letters to the leaders of 51 Big Law ESG practices last Friday to promise congressional scrutiny of ESG activities that violate antitrust laws.
As my colleague Dan Roe reports, the senators—Sen. Chuck Grassley of Iowa, Sen. Tom Cotton of Arkansas, Sen. Marsha Blackburn of Tennessee, Sen. Mike Lee of Utah, and Sen. Marco Rubio of Florida—took aim at "collusive" ESG efforts to restrict the country's supply of oil, gas and coal, which they claimed drove up energy costs and empowered U.S. enemies abroad.
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