To require the Comptroller General of the United States to carry out a study regarding major rules issued by the Securities and Exchange Commission.
Impact
If enacted, HB8226 would significantly impact the oversight and evaluation of financial regulations issued by the SEC. The required assessments could lead to greater transparency in how major rules affect the markets and investors. This could also prompt the SEC to reconsider or modify existing regulations based on the findings of the study, thereby influencing future regulatory frameworks and ensuring they align more closely with their intended objectives.
Summary
House Bill 8226 is a legislative proposal aimed at requiring the Comptroller General of the United States to conduct a comprehensive study regarding major rules issued by the Securities and Exchange Commission (SEC). The bill mandates that this study include a cost-benefit analysis for each major rule, a comparison of projected versus actual costs, and an evaluation of whether each rule facilitates capital formation, promotes fair and efficient markets, and protects investors. This analysis must be conducted within one year of the bill's enactment and every three years thereafter.
Contention
There may be points of contention surrounding the bill regarding the frequency and depth of the studies mandated. Critics may argue that such regular evaluations could burden the SEC with additional workload and detract from its ability to implement new regulations. Furthermore, the criteria for determining which rules are deemed 'major' could lead to disagreements within Congress regarding regulatory priorities and the effectiveness of existing SEC rules, highlighting differing perspectives on regulatory approaches in financial governance.
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