On the recordJanuary 12, 2017
This has been an issue in Europe. It has been an issue in the United States. I would like to make the point that, with respect to looking at economic analysis and making certain that it is bipartisan, I think there is a way to make certain it is objective. As I look at the underlying text and then look at the amendment that we are accepting, we should reflect on this. We are going to have the SEC here look at both the protection of investors and the effects to ensure competition and efficiency. So I would explain to the Members that adding that into what I already thought was pretty exacting rules here in terms of an objective analysis should really succeed in our attempt here. And what is the attempt in this Regulatory Accountability Act? It is to make sure that the U.S. capital markets are unmatched in terms of their size, their depth, their resiliency, and transparency. And this Regulatory Accountability Act gives the Commission the opportunity to ensure that its rules and regulations, past and present, each of those are worth pursuing when measured against their economic costs. Growing access to capital, protecting investors, preserving the world's strongest capital markets are not mutually exclusive objectives here. The Acting CHAIR. The time of the gentleman has expired.
