On the recordOctober 17, 2019
I thank my colleague and friend for yielding. Nobody is opposed to the idea of investor testing of SEC disclosure documents. By the way, neither is the SEC. They just proved that, as we know, from their testing of Form CRS. What I am opposed to, and I believe the gentlewoman is opposed to, is a testing loop. You test and refine, test-refine, test-refine. What is happening in between those time periods? What does it revert back to? And we can get into a death spiral or paralysis by analysis sometimes. Not that we don't have the best intentions and have the SEC move forward, we just need closure. Again, cost is a part of the access, but timeliness is part of access for everybody as well, and I am just afraid that with what we could get into we are going to be in this testing loop.
