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Anti-ESG push suffers setback as federal court judges Missouri investment rules unconstitutional

The Charles Evans Whittaker U.S. Courthouse, Kansas City, Missouri.
The Charles Evans Whittaker US Courthouse, Kansas City, Missouri. Photo: Carol M. Highsmith/Getty Images

The rules were enjoined on First Amendment, unconstitutional vagueness, and federal preemption grounds.

Since June of last year, Missouri state rules have required broker-dealers to issue scripts stating that investment strategies involving social or environmental objectives “will result” in investments “that are not solely focused on maximizing a financial return.”

Those scripts then had to be acknowledged, approved and signed by their customers.