SEC Chair Uyeda began the process to permanently end the Climate-Related Disclosure Rule for large businesses.

The acting chair, Mark Uyeda, is directing the Securities and Exchange Commission to pause its legal defense of a rule requiring companies to make climate disclosures.

By Isla Binnie, Virginia Furness and Jonathan Stempel NEW YORK/LONDON (Reuters) -The acting chair of the U.S. Securities and Exchange Commission on Tuesday signaled the regulator may roll back a controversial rule requiring thousands of public companies to disclose the threats their businesses face from risks related to the climate and environment.

An announcement by acting Chairman Mark Uyeda follows a move to relax reporting requirements, continuing a broad deregulatory push in the new administration.

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