To prohibit the enforcement of a climate change interpretive guidance issued by the Securities and Exchange Commission, and for other purposes.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``Maintaining Agency Direction on Financial Fraud Act''.
SEC. 2. INTERPRETIVE GUIDANCE NULL AND VOID.
Notwithstanding any other provision of law, no interpretive guidance issued by the Securities and Exchange Commission on or after the effective date of this Act relating to ``Commission Guidance Regarding Disclosure Related to Climate Change'', affecting Parts 211, 231, and 249 of title 17, Code of Federal Regulations (as described in Commission Release Nos. 33-9106; 34-61469; FR-82), or any successor thereto, may take effect, and such guidance shall have no force or effect with respect to any person on or after February 2, 2010.
SEC. 3. OTHER SEC ACTION PROHIBITED.
(a) Further Guidance Related to Climate Change.--The Commission may not issue any interpretive guidance with respect to disclosures related to climate change on or after the effective date of this Act. (b) Voluntary Submissions.--The Commission may not issue any interpretive guidance that would establish any requirements with respect to the content of or format for any disclosures related to climate change voluntarily submitted by any entity to the Commission on or after the effective date of this Act. (c) Civil and Administrative Actions.--No civil or administrative action or proceeding pertaining to disclosures related to climate...