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Wednesday, March 13, 2013

SEC Cost-Benefits Legislation Introduced

Rep. Scott Garret, the chairman of the House Financial Services Subcommittee on Capital Markets, unveiled legislation that would require the SEC to determine whether any of the benefits resulting from the commission’s rulemaking outweigh the costs and conduct a review of existing regulations.

The SEC Regulatory Accountability Act of 2013 (H.R. 1062) would subject the SEC to the President’s Executive Order, which outlines enhanced economic analysis requirements and requires a review of existing regulations. In addition, the legislation would require the SEC to name what problem would be addressed before issuing a new rule.

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