Political Quotes

“The SEC Regulatory Accountability Act subjects the SEC to enhanced cost-benefit analysis requirements and requires a review of existing regulations. By promoting economic analysis requirements during the regulatory process, this bill ensures that regulation writing is data driven and not done on an ad hoc basis with little thought to the true impact the expanding regulatory net has on businesses and the economy. It is a mistake for regulators overseeing our financial system and the capital markets, including the SEC, to promulgate regulations without fully considering the costs and benefits, as well as all of the available regulatory alternatives. This bill also takes the commonsense approach of requiring the SEC to evaluate whether a proposed regulation is inconsistent with, or duplicative of, other Federal regulations. When our businesses are being overwhelmed by compliance obligations that demand more and more time and resources, it is crucial that our regulators do everything in their power to ensure that regulations are effective, streamlined, and nonduplicative to minimize impact. It is important to note that this legislation does not limit the SEC's rulemaking authority in any capacity. The bill appropriately strengthens the SEC's existing cost-benefit-related requirements to ensure that the true impact of regulations can be calculated.…”