David Schweikert: “Well, hopefully, I won't take 4 minutes here. Madam Chairman, this amendment is actually very, very simple. We're…”

“Well, hopefully, I won't take 4 minutes here. Madam Chairman, this amendment is actually very, very simple. We're basically reaching out to the SEC saying, Look, come back, make your determination, and let us know within 120 days if you see this is an actual issue. The language in here--``not later than 120 days after the enactment of this act transmit its recommendations to Congress''--this is actually, I believe, a good, workable, rational answer to much of the discussion that happened in the Financial Services Committee. It also has the SEC stand up and say yes, they have the authority, or no, they don't, and then transmit that back to us in the committee. With that, Madam Chairman, I yield back the balance of my time. The Acting CHAIR. The question is on the amendment offered by the gentleman from Arizona (Mr. Schweikert). The amendment was agreed to. Amendment No. 14 Offered by Mr. Capuano The Acting CHAIR. It is now in order to consider amendment No. 14 printed in House Report 112 409.”