SEC 'Names Rule' for ESG Funds Draws Rare Republican Backing -- and Industry Gripes

Also, Gensler speaks to media; Gruenberg's fix for fight over non-banks is more rules for everyone; pressure grows for SEC on 'human capital'

There was never any doubt that the SEC’s new truth in advertising plan for mutual fund names would be approved. The surprise today was that it passed 4-1, winning the (somewhat hesitant) support of Republican Commissioner Hester Peirce.

Sparked by the rapid growth and popularity of ESG investing, the rule requires 80 percent of a fund’s assets to reflect…