FOi's daily roundup of news in brief, 28 January 2010

SEC gives guidance on climate change disclosure requirementsThe US Securities and Exchange Commission yesterday (January 27) gave guidance to public companies on how SEC disclosure requirements apply to business or legal developments relating to climate change.The aim is to provide guidance on how to interpret the disclosure rules. It does not create new legal requirements or modify existing ones.SEC chairman Mary Schapiro stressed that the regulator is not participating in the climate change debate, but is helping companies interpret the disclosure rules in the context of actual and proposed climate change legislation.“[The] guidance will help to ensure that our disclosure rules are consistently applied,” she said in a statement.The SEC said companies should think about whether the impact of both existing laws and the proposed impact of pending laws is material. It suggested that they should consider the risks and effects of international accords and treaties.The New York Attorney General...