On the recordMay 17, 2013
I would just say a couple of things in closing. First, what this bill is not is a bill that does anything to amend or change the mandates of the SEC. We know what those mandates are. They are to ensure fair markets, efficient markets. They are to facilitate capital formation and, finally, investor protection. They are all designed to work together. This bill does nothing to change that mandate. In fact, the bill, if you look at it, talks about cost-benefit analysis repeatedly throughout the entire bill. I would suggest to you that investor protection includes liquid markets, formation of capital. If we want to protect investors, obviously we need to have healthy markets. That's what this bill ensures by requiring the SEC conduct the most simple, routine cost- benefit analysis, something that the President, by the way, has offered up and required of most Federal agencies that are affected by his executive order. This simply makes them a part of that. In addition, the SEC chairman stated earlier that that was what her belief should be for the SEC in conducting the cost-benefit analysis. So this simply codifies, as is our responsibility as Members of Congress, to do just that. With that in mind, I would ask that this body adopt our amendment. I yield back the balance of my time. The CHAIR. The question is on the amendment offered by the gentleman from Virginia (Mr. Hurt). The question was taken; and the Chair announced that the ayes appeared to have it.
