ROBERT HURT

I think that my constituents, if they were hearing what we are hearing today, would be bewildered.

Hardworking taxpayers deserve a Federal flood insurance program that is fiscally responsible.

It is critical that this subcommittee work to pursue significant reforms.

Our current government-provided flood insurance system has proven ineffective, inefficient, and costly to taxpayers.

Today I rise in support of this regulatory overreach protection act. I believe that it is safe to say that no one has a greater interest in protecting our water resources than our Nation's farmers, farmers who depend on clean water for…

Streamlining our disclosure regime to better reflect the SEC's mission of protecting the investors, maintaining fair, orderly, and efficient markets, and facilitating capital formation will lead to benefits for both business and investors.

I am encouraged by SEC Chair White's recent comments that the Commission's review of equity market structure will include an examination of the nature of our self-regulatory model.

Even with those successes, I continue to hear from companies--both public and private--in my district about the impacts of outdated and burdensome regulations on their ability to access capital.

Fostering capital formation in our capital markets requires consistently reliable information on public companies, however, too much information, for the sake of information itself, can create inefficiencies and confusion, especially among…

Last Congress, this subcommittee led the charge to pass the JOBS Act to decrease burdensome regulations and provide incentives for emerging growth companies to access capital and public markets.

We have continued to see costly unintended consequences arise from regulations that were poorly devised and implemented.

While there is often, as it relates to Dodd-Frank, a negligible, if any benefit to some of the rules that have been adopted, there is also a great cost.

This is sort of rare in Washington, it seems to me, where you have folks who are not necessarily represented by moneyed interests here testifying before your Congress.

So XBRL to some degree is a little bit of a symptom, but there is a disease out there, and we need to overhaul these systems into the 21st Century.

Congress entrusts financial regulatory responsibility to specific regulatory bodies with specific areas of expertise and jurisdiction.

This action by the FSOC raises concern for the development of financial regulation in the future and carries significant consequences for government and industry.

I represent a rural district in Virginia, one that has not seen the same economic growth that other places in this country have seen.

This is another example of an unnecessary and costly requirement that disincentivizes innovative companies from accessing the public markets.

While the JOBS Act was an important step forward, these hearings show that more still needs to be done to ensure that we remove costly and unnecessary regulatory impediments.

One of the most important functions of this subcommittee is to promote initiatives to increase access to capital for our small businesses and startups.

We must look at solutions to eliminate and streamline regulations to create an environment that is more efficient and conducive for long-term economic growth.

One of the most important functions of this committee is to promote initiatives to increase access to capital for our small businesses and startups.

Obviously, the SEC has the responsibility to encourage capital formation, investor protection, and fair and efficient markets.

Beyond harming the competitive position of American public companies, I have heard from innovative private companies in Virginia's 5th District, including many of our research and development bio-tech firms, that mandatory audit firm…

Without private investment, we would not have been able to take our business out of a garage in Lynchburg, and into millions of homes all across the world.