Federal court strikes down Missouri investment rule targeted at `woke politics'

A federal judge has struck down a Missouri rule requiring disclosure of “social objectives” in investment decisions. Republican Secretary of State Jay Ashcroft had described the rule as a way to expose financial institutions that “put woke politics ahead of investment returns.” But a federal judge said it was preempted by federal law and infringed on the First Amendment free speech rights of investment advisors. Ashcroft's office enforces state securities laws. He touted the rule during his recent campaign for governor. Ashcroft finished third in the Republican primary last week.