WASHINGTON – Today, the House of Representatives passed H.R. 78, the SEC Regulatory Accountability Act. H.R. 78 would make the Securities and Exchange Commission’s (SEC) rulemaking process more accountable by enhancing its cost-benefit analysis requirements and requiring the SEC to revisit its rules after implementation to ensure they are actually achieving their intended purposes.
Following the passage of the bill, Congressman French Hill (AR-02) stated:
“While the SEC has made positive strides toward its economic analysis in the past few years, processes can always be improved. SEC regulations shouldn’t unnecessarily impede or make access to capital more costly. This proposal requires the SEC to perform a robust economic analysis and review past rules that may be outdated, irrelevant, or duplicative to ensure that the rules coming from the SEC are ones that will help the agency fulfill its core missions without stifling much-need economic growth.”