Ted Budd: “This resolution would overturn a Securities and Exchange Commission rule that, according to the agency, is supposed to…”

“This resolution would overturn a Securities and Exchange Commission rule that, according to the agency, is supposed to ``help combat global corruption and empower citizens of resource- rich countries to hold their governments accountable. . . .'' Well, that is a grand idea, but we have a financial regulator to protect the American investor, not to combat global corruption or empower citizens for other countries. I am sure we could send the SEC off to fight any number of other international problems--religious oppression, authoritarian regimes, malaria, maybe even leprosy. The question is if a financial regulator mandated to combat all these things can fulfill its core mission to provide financial transparency and prevent fraud. Given that we had a financial crisis that the SEC didn't foresee and did nothing to prevent, that would suggest that it needs even less on its plate, not more. What this joint resolution does is put the American investor first and help us to stop sending the SEC off on global rabbit trails. I urge a ``yes'' vote.”