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SEC Regulatory Accountability Act
Legislative Progress
Momentum (last 30 days)
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0 actions · 0 new cosponsors · 0 votes
Speed vs cohort
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vs 9,698 other HR bills in the 117th — cohort avg 63d
SEC Regulatory Accountability Act This bill direct the Securities and Exchange Commission (SEC) to make specified considerations before issuing securities regulations. Specifically, the SEC must identify the nature and source of the problem that the proposed regulation is designed to address; adopt a regulation only upon a reasoned determination that its benefits justify its costs; identify and assess available alternatives to any regulation; and ensure that any regulation is accessible, consistent, written in plain language, and easy to understand. In determining the costs and benefits of a proposed regulation, the SEC must consider its impact on investors, market liquidity, small businesses, and competition. In addition, the SEC must periodically review its existing regulations to determine if they are outmoded, ineffective, insufficient, or excessively burdensome and review, modify, streamline, expand, or repeal them accordingly. Whenever it adopts or amends a major rule, the SEC must state (1) the regulation's purposes and intended consequences, (2) metrics for measuring the regulation's economic impact, (3) the assessment plan to be used to assess whether the regulation has achieved its stated purposes, and (4) any foreseeable unintended or negative consequences of the regulation.
These links require the bill number to appear in the filing's source-reported specific issue text. Client expenses and lobbying-firm income are separate disclosure fields.
Filing registrants (2)
2024 · first_quarter · Banking
Prudential agency (Federal Reserve, OCC and FDIC) proposal to implement the Basel Endgame reforms in the U.S. and congressional (U.S. House and Senate) oversight of the same, including revisions to the trading book capital rules, stress testing, capital surcharges and buffers; SEC Prohibition Against Conflicts of Interest in Certain Securitizations proposed rule; H.R. 4168, a bill to amend the Securities Act of 1933 to require that information required to be disclosed to the Securities and Exchange Commission by issuers be material to voting or investment decisions regarding those issuers, and for other purposes; H.R. 4237, a bill to amend the Investment Advisers Act of 1940 and the Employee Retirement Income Security Act of 1974 to specify requirements concerning the consideration of pecuniary and non-pecuniary factors; H.R. 1807, the Improving Disclosure for Investors Act of 2023; SEC proposed rule regarding the safeguarding of client assets (custody proposal); S. 2190, the RECOUP Act, a bill to amend the Federal Deposit Insurance Act to increase bank executive accountability and to improve financial stability; H.R. ____, to exempt 144a fixed income securities from Rule 15c2-11; S. 1695, the American Infrastructure Bonds Act of 2023; H.R. 1837, the Investing in Our Communities Act; H.R. 4664 and S. 2309, the Fiscal Year 2024 Financial Services and General Government Appropriations bill related to Consolidated Audit Trail and SEC regulatory agenda; SEC Open-End Fund Liquidity Risk Management Programs and Swing Pricing proposed rule; SEC Amendments to NMS Plan for the Consolidated Audit Trail-Data Security; SEC Staff Accounting Bulletin 121; SEC Security-based Swaps Large Position Reporting proposed rule; H.R.760 - Chinese Military and Surveillance Company Sanctions Act of 2023; H.R. 1177/S. 427, Financial Freedom Act of 2023; H.R. 4763 - the Financial Innovation and Technology for the 21st Century Act; H.R. 4767 - Protecting American's Retirement Savings from Politics Act; H.R. 3136 - The National Critical Capabilities Defense Act; S.2678 - Outbound Investment Transparency Act of 2023; S. 2251 - Cybersecurity Act of 2023 ; SEC proposed rule on Predictive Data Analytics; SEC proposal regarding reporting of Securities Loans; SEC proposals to modify equity market structure; Biden Administration executive order related to China; SEC final rule related to clearing of U.S. Treasury securities; SEC final rule to improve clearing agency governance; SEC proposed rule to address Volume-Based Exchange Transaction Pricing for NMS Stocks; SEC final rule on short sale data; SEC final rules on beneficial ownership; HR ____, the SEC Regulatory Accountability Act (H.R. 9603 in 117th Congress) (attached to Capital Markets Subcommittee hearing on 3/20/24); HR 7030, the Review the Expansion of Government Act of 2024 or the REG Act of 2024 (attached to Capital Markets Subcommittee hearing on 3/20/24); HR ____, to require an assessment and report to Congress on the adequacy of the SECs cost-benefit analysis with respect to major rulemakings (attached to Capital Markets Subcommittee hearing on 3/20/24); HR ____, to mandate minimum comment periods of at least 60 days for all SEC-initiated rulemakings, with certain exceptions, calculated from the date published in the Federal Register (attached to Capital Markets Subcommittee hearing on 3/20/24); HR ____, to require the Commission to review certain reviewable actions by SEC staff (attached to Capital Markets Subcommittee hearing on 3/20/24); HR ____, to require the semi-annual testimony of the Chairman of the SEC before the Committee on Financial Services of the House of Representatives and the Committee on Banking, Housing, and Urban Affairs of the Senate, with testimony on at least one instance to include the testimony of the entire Commission (attached to Capital Markets Subcommittee hearing on 3/20/24); HR 4551, the "Protecting Investors Personally Identifiable Information Act" (attached to Capital Markets Subcommittee hearing on 3/20/24); HR 7902, the "Protecting Private Job Creators Act" (exempts fixed income securities from 15c2-11 disclosure) (attached to Capital Markets Subcommittee hearing on 3/20/24); S. 3676 (Protecting Private Job Creators Act); H.R. 2799, Expanding Access of Capital Act of 2023; H.R. 2627, Increasing Investor Opportunities Act; H.R. 3063, Retirement Fairness for Charities and Education Institutions Act, Expanding the Protection for Research Reports to Cover all Securities of All Issuers; H.R. 2590, Unlocking Capital for Small Business Act; H.J. Res. 109. Providing for congressional disapproval of the rule submitted by the SEC related to "Staff Accounting Bulletin No. 121."; S.J.Res.__, a Joint Resolution providing for congressional disapproval of the rule submitted by the SEC related to "Staff Accounting Bulletin No. 121.".
Referred to the House Committee on Financial Services.
Introduced in House
Congress.gov source codes: 1000, Intro-H
Bills with similar content found using semantic analysis.
Sources: Congress.gov
Client expense: $1,630,000 · Firm income: Not reported
Government targets: Federal Housing Finance Agency (FHFA), Federal Reserve System, HOUSE OF REPRESENTATIVES, Labor, Dept of (DOL), Natl Economic Council (NEC), Office of the Comptroller of the Currency (OCC), SENATE, Securities & Exchange Commission (SEC), Treasury, Dept of
2022 · fourth_quarter · Financial Institutions/Investments/Securities
S.523 - A bill to repeal the Office of Financial Research, and for other purposes (Ted Cruz, R-TX) , ALL PROVISIONS S.588 - A bill to establish the Advisory Committee on Climate Risk on the Financial Stability Oversight Council (Dianne Feinstein, D-CA) , ALL PROVISIONS House Version: H.R.1549 - To establish the Advisory Committee on Climate Risk on the Financial Stability Oversight Council (Sean Casten, D-IL-6) , ALL PROVISIONS H.R.1277 - To amend the Securities Exchange Act of 1934 to require the submission by issuers of data relating to diversity, and for other purposes (Gregory Meeks, D-NY-5) , ALL PROVISIONS H.R.2570 - To amend the Securities Exchange Act of 1934 to require certain disclosures relating to climate change, and for other purposes (Sean Casten, D-IL-6) , ALL PROVISIONS H.R.3899 - To amend the Financial Stability Act of 2010 to require the Financial Stability Oversight Council to consider alternative approaches before determining that a U.S. nonbank financial company shall be supervised by the Board of Governors of the Federal Reserve System, and for other purposes (Bill Foster, D-IL-11) , ALL PROVISIONS S.2857 - A bill to prohibit any Federal agency from requiring financial institutions to report on the financial transactions of their customers (Tommy Tuberville, R-AL) , ALL PROVISIONS S.3179 - A bill making appropriations for financial services and general government for the fiscal year ending September 30, 2022, and for other purposes (Chris Van Hollen, D-MD) , ALL PROVISIONS S.4522 - A bill to enhance rulemaking requirements for the Bureau of Consumer Financial Protection, and for other purposes (John Kennedy, R-LA) , ALL PROVISIONS H.R. 8589 - To prohibit the Securities and Exchange Commission from finalizing the proposed rule titled The Enhancement and Standardization of Climate-Related Disclosures for Investors, and for other purposes. (French Hill, R-AR-2) , ALL PROVISIONS S. 4685 - Financial Services and General Government Appropriations Act, 2023. (Chris Van Hollen, D-MD) , ALL PROVISIONS S.4889 - A bill to amend the Consumer Financial Protection Act of 2010 to clarify the funding of the Bureau of Consumer Financial Protection. (Bill Hagerty, R-TN) , ALL PROVISIONS House Version: H.R.8918 - To amend the Consumer Financial Protection Act of 2010 to clarify the funding of the Bureau of Consumer Financial Protection, and for other purposes. (French Hill, R-AR-2) , ALL PROVISIONS H.R.9063 - To amend the Securities Exchange Act of 1934 to prohibit the Securities and Exchange Commission from requiring an issuer to disclose information related to certain greenhouse gas emissions, and for other purposes. (Frank Lucas, R-OK-3) , ALL PROVISIONS H.R.9292 - To promote United States interests at the international financial institutions, and for other purposes. (French Hill, R-AR-2), ALL PROVISIONS H.R.9315 - Responsible Accounting Standards Act of 2022 (Blaine Luetkemeyer, R-MO-3), ALL PROVISION S.5135 - Protect Farmers from the SEC Act (John Boozman, R-AR), ALL PROVISIONS H.R.9405 - To amend the Securities Act of 1933 to add additional investment thresholds for an individual to qualify as an accredited investor, and for other purposes. (Ted Budd, R-NC-13), ALL PROVISIONS H.R.9408 - To amend the Securities Act of 1933 to require that information required to be disclosed to the Securities and Exchange Commission by issuers be material to investors of those issuers, and for other purposes. (Bill Huizenga, R-MI-2), ALL PROVISIONS H.R.9410 - To require auditor independence standards of the Public Company Accounting Oversight Board and the Securities and Exchange Commission applicable to past audits of a company occurring before it was a public company to treat an auditor as independent if the auditor meets established professional standards, and for other purposes. (Patrick McHenry, R-NC-10), ALL PROVISIONS H.R.9412 - To amend the Securities Act of 1933 to permit issuers to submit draft registration statements to the Securities and Exchange Commission for confidential review for both initial public offers and follow-on offers, to set deadlines for when such statements shall be made public, and for other purposes. (Patrick McHenry, R-NC-10), ALL PROVISIONS H.R.9413 - To amend the Securities Exchange Act of 1934 to specify certain registration statement contents for emerging growth companies, to permit issuers to file draft registration statements with the Securities and Exchange Commission for confidential review, and for other purposes. (Patrick McHenry, R-NC-10), ALL PROVISIONS H.R.9437 - To amend the Securities Exchange Act of 1934 to require covered issuers to carry out a racial equity audit every 2 years, and for other purposes. (Al Green, D-TX-9), ALL PROVISIONS H.R.9543 - To amend title 41, United States Code, to prohibit the head of agencies from requiring the disclosure of greenhouse gas emissions and the implementation of greenhouse gas emission reduction targets by Federal contractors, and for other purposes. (Byron Donalds, R-FL-19), ALL PROVISIONS H.R.9556 - To promote innovation in financial services, and for other purposes. (Patrick McHenry, R-NC-10), ALL PROVISIONS S. 5300 - A bill to provide greater transparency with respect to the financial regulatory agencies, and for other purposes. (Patrick Toomey, R-PA), ALL PROVISIONS S.5280 - A bill to amend the Consumer Financial Protection Act of 2010 to subject the Bureau of Consumer Financial Protection to the regular appropriations process, and for other purposes. (Patrick Toomey, R-PA), ALL PROVISIONS H.R.9603 - To improve the consideration by the Securities and Exchange Commission of the costs and benefits of its regulations and orders. (Ann Wagner, R-MO-2), ALL PROVISIONS
Client expense: $400,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE