The seal of the U.S. Securities and Exchange Commission (SEC) is seen at their headquarters in Washington, D.C., U.S., May 12, 2021. The vote by the U.S. Securities and Exchange Commission would update a two-decade-old "Names Rule" requiring that investment fund names match the assets they contain. The SEC since 2021 has also focused on prosecuting ESG-related misconduct and "greenwashing," bringing enforcement actions and levying fines. The 80% investment requirement currently applies to other fund characteristics such as risk. As a result of the change, 76% of investment funds would be subject to the "Names Rule" up from the current 60%, SEC officials said prior to the vote.

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Persons: Andrew Kelly, William Birdthistle, Douglas Gillison, Sonali Paul Organizations: U.S . Securities, Exchange Commission, Washington , D.C, REUTERS, Rights, Exchange, SEC's Division of Investment Management, SEC, Trade, Thomson Locations: Washington ,, SEC's