3.0.0 2308 2022-03-01T06:43:08Z 2022-03-01T06:43:08Z House H HR 2011-06-23 112 From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. GARRETT:H.R. 2308.Congress has the power to enact this legislation pursuantto the following:Article I, Section 8, Clauses 1 (``The Congress shall havePower To lay and collect Taxes, Duties, Imposts and Excises,to pay the Debts and provide for the common Defense andgeneral Welfare of the United States; but all Duties, Impostsand Excises shall be uniform throughout the United States''),3 (``To regulate Commerce with foreign Nations, and among theseveral States, and with the Indian Tribes''), and 18 (``Tomake all Laws which shall be necessary and proper forcarrying into-Execution the foregoing Powers, and all otherPowers vested by this Constitution in the Government of theUnited States, or in any Department or Officer thereof'').[Page H4528]]]> hsba00 Financial Services Committee House Standing hsba16 Capital Markets Subcommittee Reported by 2011-11-15T14:44:13Z Markup by 2011-11-15T14:43:23Z Referred to 2011-07-19T13:55:34Z Reported by 2012-04-25T17:43:50Z Markup by 2012-02-16T14:23:04Z Hearings by 2011-09-15T21:29:51Z Referred to 2011-06-23T14:01:35Z H. Rept. 112-453 Red Tape Reduction and Small Business Job Creation Act 112 4078 HR 2012-07-31 Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 477. Related bill CRS SEC Regulatory Accountability Act 112 2373 S 2012-04-26 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Related bill CRS 2012-04-25 Placed on the Union Calendar, Calendar No. 317. Calendars H12410 2 House floor actions U00317 2012-04-25 Reported (Amended) by the Committee on Financial Services. H. Rept. 112-453. Committee H12200 2 House floor actions hsba00 Financial Services Committee 2012-04-25 Reported (Amended) by the Committee on Financial Services. H. Rept. 112-453. Committee 5000 9 Library of Congress hsba00 Financial Services Committee 2012-02-16 hsba00 Financial Services Committee 1 House committee actions Ordered to be Reported (Amended) by the Yeas and Nays: 30 - 26. Committee 2012-02-16 hsba00 Financial Services Committee 1 House committee actions Committee Consideration and Mark-up Session Held. Committee 2011-11-15 hsba16 Capital Markets Subcommittee 1 House committee actions Forwarded by Subcommittee to Full Committee (Amended) by the Yeas and Nays: 19 - 15 . Committee 2011-11-15 hsba16 Capital Markets Subcommittee 1 House committee actions Subcommittee Consideration and Mark-up Session Held. Committee 2011-09-15 hsba00 Financial Services Committee 1 House committee actions Committee Hearings Held. Committee 2011-07-19 hsba16 Capital Markets Subcommittee 1 House committee actions Referred to the Subcommittee on Capital Markets and Government Sponsored Enterprises. Committee 2011-06-23 Referred to the House Committee on Financial Services. IntroReferral H11100 2 House floor actions hsba00 Financial Services Committee 2011-06-23 Introduced in House IntroReferral Intro-H 9 Library of Congress 2011-06-23 Introduced in House IntroReferral 1000 9 Library of Congress G000548 Rep. Garrett, Scott [R-NJ-5] Scott Garrett R NJ 5 N B000013 Rep. Bachus, Spencer [R-AL-6] SPENCER BACHUS R AL 6 2011-06-23 True H001036 Rep. Hensarling, Jeb [R-TX-5] Jeb Hensarling R TX 5 2011-06-23 True N000182 Rep. Neugebauer, Randy [R-TX-19] Randy Neugebauer R TX 19 2011-06-23 True J000255 Rep. Jones, Walter B., Jr. [R-NC-3] WALTER JONES R NC B. 3 2011-06-23 True M001156 Rep. McHenry, Patrick T. [R-NC-10] Patrick McHenry R NC 10 2011-06-23 True C001062 Rep. Conaway, K. Michael [R-TX-11] K. Conaway R TX Michael 11 2011-06-23 True K000210 Rep. King, Peter T. [R-NY-3] PETER KING R NY T. 3 2011-06-23 True C001064 Rep. Campbell, John [R-CA-48] John Campbell R CA 48 2011-06-23 True S001183 Rep. Schweikert, David [R-AZ-5] David Schweikert R AZ 5 2011-06-23 True S001187 Rep. Stivers, Steve [R-OH-15] Steve Stivers R OH 15 2011-06-23 True D000613 Rep. Dold, Robert J. [R-IL-10] Robert Dold R IL J. 10 2011-06-23 True M001138 Rep. Manzullo, Donald A. [R-IL-16] DONALD MANZULLO R IL 16 2011-06-23 True H001060 Rep. Hurt, Robert [R-VA-5] Robert Hurt R VA 5 2011-06-23 True C001082 Rep. Canseco, Francisco "Quico" [R-TX-23] Francisco Canseco R TX Quico 23 2011-06-23 True Y000063 Rep. Yoder, Kevin [R-KS-3] Kevin Yoder R KS 3 2011-06-23 True G000569 Rep. Grimm, Michael G. [R-NY-13] Michael Grimm R NY G. 13 2011-09-20 False H001058 Rep. Huizenga, Bill [R-MI-2] Bill Huizenga R MI 2 2011-11-02 False M001139 Rep. Miller, Gary G. [R-CA-42] GARY MILLER R CA 42 2012-02-16 False B001250 Rep. Bishop, Rob [R-UT-1] Rob Bishop R UT 1 2012-04-25 False Finance and Financial Sector Administrative law and regulatory procedures Corporate finance and management Financial services and investments Government studies and investigations Securities Securities and Exchange Commission (SEC) Finance and Financial Sector 00 2011-06-23 Introduced in House 2012-05-03T21:31:36Z SEC Regulatory Accountability Act - Amends the Securities Exchange Act of 1934 to require the Securities and Exchange Commission (SEC), before promulgating a regulation or issuing any order, to: (1) identify the nature and significance of the problem that the proposed regulation is designed to address in order to assess whether any new regulation is warranted; (2) use the Office of the Chief Economist to assess the costs and benefits of the intended regulation and adopt it only on a determination that its benefits justify the costs; and (3) ensure that any regulation is accessible, consistent, written in plain language, and easy to understand.

Directs the SEC to review its regulations and orders periodically to determine their efficacy and whether to modify or repeal them.

]]> 17 2012-04-25 Reported to House with amendment(s) 2012-06-26T21:22:26Z SEC Regulatory Accountability Act - (Sec. 2) Amends the Securities Exchange Act of 1934 to direct the Securities and Exchange Commission (SEC), before issuing a regulation, to: (1) identify and evaluate the significance of the problem that the proposed regulation is designed to address in order to assess whether any new regulation is warranted; (2) use the SEC Chief Economist to assess the costs and benefits of the intended regulation and adopt it only upon a reasoned determination that its benefits justify the costs; (3) identify and assess available alternatives that were considered; and (4) ensure that any regulation is accessible, consistent, written in plain language, and easy to understand.

Requires the SEC to: (1) consider whether the rulemaking will promote efficiency, competition, and capital formation; (2) consider the impact of the regulation upon investor choice, market liquidity and small business; (3) explain in its final rule the nature of comments received concerning the proposed rule or rule change; and (4) respond to those comments, explaining any changes made in response, and the reasons that it did not incorporate industry group concerns regarding potential costs or benefits.

Directs the SEC to: (1) review its regulations and orders periodically to determine if they are outmoded, ineffective, insufficient, or excessively burdensome; and (2) modify, streamline, expand, or repeal them.

Requires the SEC, whenever it adopts or amends a major rule, to state in its adopting release: (1) the purposes and intended consequences of the regulation, (2) the post-implementation quantitative and qualitative metrics to measure the economic impact of the regulation and the extent to which it has accomplished the stated purposes, (3) the assessment plan that will be used under the supervision of the Chief Economist to assess whether the regulation has achieved those purposes, and (4) any foreseeable unintended or negative consequences.

Requires the assessment plan to: (1) consider the costs, benefits, and intended and unintended consequences of the regulation; and (2) specify the data to be collected, the methods for its collection and analysis, and an assessment completion date.

Waives notice and comment requirements for the data collection if the SEC has published its assessment plan for notice and comment at least 30 days before adoption of a final regulation or amendment.

(Sec. 3) Requires the SEC to report to specified congressional committees a plan to subject to the requirements of this Act the Public Company Accounting Oversight Board, the Municipal Securities Rulemaking Board, and any registered national securities association.

]]> SEC Regulatory Accountability Act Short Titles as Introduced SEC Regulatory Accountability Act Short Titles as Reported to House SEC Regulatory Accountability Act H House Official Title as Introduced To improve the consideration by the Securities and Exchange Commission of the costs and benefits of its regulations and orders. Display Title SEC Regulatory Accountability Act Reported in House 2012-04-25T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-112hr2308rh/xml/BILLS-112hr2308rh.xml Introduced in House 2011-06-23T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-112hr2308ih/xml/BILLS-112hr2308ih.xml 2012-04-25 Placed on the Union Calendar, Calendar No. 317. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.