Providing for consideration of the bill (H.R. 78) to improve the consideration by the Securities and Exchange Commission of the costs and benefits of its regulations and orders; providing for consideration of the bill (H.R. 238) to reauthorize the Commodity Futures Trading Commission, to better protect futures customers, to provide end-users with market certainty, to make basic reforms to ensure transparency and accountability at the Commission, to help farmers, ranchers, and end-users manage risks, to help keep consumer costs low, and for other purposes; and for other purposes.

3.0.0 78 2023-01-11T13:34:13Z 2023-01-11T13:34:13Z House HR 2017-01-03 115 [Congressional Record Volume 163, Number 1 (Tuesday, January 3, 2017)]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mrs. WAGNER:H.R. 78.Congress has the power to enact this legislation pursuantto the following:Article I, Section 8, Clause 3The Congress shall have Power *** To regulate Commerce withforeign Nations, and among the several States, and with theIndian Tribes[Page H49]]]> ssbk00 Banking, Housing, and Urban Affairs Committee Senate Standing Referred to 2017-01-17T21:15:57Z hsba00 Financial Services Committee House Standing Referred to 2017-01-03T17:24:50Z Providing for consideration of the bill (H.R. 78) to improve the consideration by the Securities and Exchange Commission of the costs and benefits of its regulations and orders; providing for consideration of the bill (H.R. 238) to reauthorize the Commodity Futures Trading Commission, to better protect futures customers, to provide end-users with market certainty, to make basic reforms to ensure transparency and accountability at the Commission, to help farmers, ranchers, and end-users manage risks, to help keep consumer costs low, and for other purposes; and for other purposes. 115 40 HRES 2017-01-11 Motion to reconsider laid on the table Agreed to without objection. 13:40:11 Related bill House Procedurally-related House 2017-01-17 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. IntroReferral 2017-01-12 17:13:40 Motion to reconsider laid on the table Agreed to without objection. Floor H38310 2 House floor actions 2017-01-12 17:13:38 On passage Passed by recorded vote: 243 - 184 (Roll no. 51). Floor H37100 2 House floor actions 51 https://clerk.house.gov/evs/2017/roll051.xml House 115 2017-01-12T22:13:38Z 1 2017-01-12 17:13:38 Passed/agreed to in House: On passage Passed by recorded vote: 243 - 184 (Roll no. 51). Floor 8000 9 Library of Congress 51 https://clerk.house.gov/evs/2017/roll051.xml House 115 2017-01-12T22:13:38Z 1 2017-01-12 17:07:27 On motion to recommit with instructions Failed by recorded vote: 195 - 232 (Roll no. 50). Floor H36110 2 House floor actions hsba00 Financial Services Committee 50 https://clerk.house.gov/evs/2017/roll050.xml House 115 2017-01-12T22:07:27Z 1 2017-01-12 17:01:08 The previous question on the motion to recommit with instructions was ordered without objection. Floor H8A000 2 House floor actions 2017-01-12 16:53:10 Floor summary: DEBATE - The House proceeded with 10 minutes of debate on the Bustos motion to recommit with instructions. The instructions contained in the motion seek to require the bill to be reported back to the House with an amendment pertaining to consideration of the potential outsourcing of U.S. Jobs. Floor H8D000 2 House floor actions 2017-01-12 16:52:57 Mrs. Bustos moved to recommit with instructions to the Committee on Financial Services. (text: CR H446) Floor H36100 2 House floor actions hsba00 Financial Services Committee 2017-01-12 16:52:35 The House adopted the amendment as agreed to by the Committee of the Whole House on the state of the Union. Floor H34400 2 House floor actions 2017-01-12 16:52:26 The previous question was ordered pursuant to the rule. Floor H35000 2 House floor actions 2017-01-12 16:51:41 The House rose from the Committee of the Whole House on the state of the Union to report H.R. 78. Floor H32600 2 House floor actions 2017-01-12 16:12:24 POSTPONED PROCEEDINGS - At the conclusion of debate on the Raskin amendment, the Chair put the question on adoption of the amendment and by voice vote announced that the noes had prevailed. Mr. Raskin demanded a recorded vote and the Chair postponed further proceedings on the question of adoption of the amendment until a time to be announced. Floor H8D000 2 House floor actions 2017-01-12 16:01:52 DEBATE - Pursuant to the provisions of H. Res. 40, the Committee of the Whole proceeded with 10 minutes of debate on the Raskin Part A amendment No. 5. Floor H8D000 2 House floor actions 2017-01-12 16:01:14 POSTPONED PROCEEDINGS - At the conclusion of debate on the DeSaulnier amendment, the Chair put the question on adoption of the amendment and by voice vote announced that the noes had prevailed. Mr. DeSaulnier demanded a recorded vote and the Chair postponed further proceedings on the question of adoption of the amendment until a time to be announced. Floor H8D000 2 House floor actions 2017-01-12 15:53:24 DEBATE - Pursuant to the provisions of H. Res. 40, the Committee of the Whole proceeded with 10 minutes of debate on the DeSaulnier Part A amendment No. 4. Floor H8D000 2 House floor actions 2017-01-12 15:51:20 POSTPONED PROCEEDINGS - At the conclusion of debate on the Al Green (TX) amendment, the Chair put the question on adoption of the amendment and by voice vote announced that the noes had prevailed. Mr. Al Green (TX) demanded a recorded vote and the Chair postponed further proceedings on the question of adoption of the amendment until a time to be announced. Floor H8D000 2 House floor actions 2017-01-12 15:41:39 DEBATE - Pursuant to the provisions of H. Res. 40, the Committee of the Whole proceeded with 10 minutes of debate on the Al Green (TX) Part A amendment No. 3. Floor H8D000 2 House floor actions 2017-01-12 15:36:50 DEBATE - Pursuant to the provisions of H. Res. 40, the Committee of the Whole proceeded with 10 minutes of debate on the Velazquez Part A amendment No. 2. Floor H8D000 2 House floor actions 2017-01-12 15:36:02 POSTPONED PROCEEDINGS - At the conclusion of debate on the Al Green (TX) amendment, the Chair put the question on adoption of the amendment and by voice vote announced that the noes had prevailed. Mr. Al Green (TX) demanded a recorded vote and the Chair postponed further proceedings on the question of adoption of the amendment until a time to be announced. Floor H8D000 2 House floor actions 2017-01-12 15:28:04 DEBATE - Pursuant to the provisions of H. Res. 40, the Committee of the Whole proceeded with 10 minutes of debate on the Al Green (TX) Part A amendment No. 1. Floor H8D000 2 House floor actions 2017-01-12 14:16:37 GENERAL DEBATE - The Committee of the Whole proceeded with one hour of general debate on H.R. 78. Floor H8D000 2 House floor actions 2017-01-12 14:16:26 The Speaker designated the Honorable Tom McClintock to act as Chairman of the Committee. Floor H32400 2 House floor actions 2017-01-12 14:16:25 House resolved itself into the Committee of the Whole House on the state of the Union pursuant to H. Res. 40 and Rule XVIII. Floor H32020 2 House floor actions 2017-01-12 14:14:54 Rule provides for consideration of H.R. 78 and H.R. 238. The resolution provides for one hour of general debate on both H.R. 78 and H.R. 238. The resolution provides for suspension authority at any time on the legislative day of January 13, 2017. The resolution also provides for legislative proceedings during the period of January 16, 2017 through January 20, 2017. Floor H8D000 2 House floor actions 2017-01-12 14:14:49 Considered under the provisions of rule H. Res. 40. (consideration: CR H428-448; text as reported in House: CR H437-438) Floor H30000 2 House floor actions 2017-01-10 18:02:35 Rules Committee Resolution H. Res. 40 Reported to House. Rule provides for consideration of H.R. 78 and H.R. 238. The resolution provides for one hour of general debate on both H.R. 78 and H.R. 238. The resolution provides for suspension authority at any time on the legislative day of January 13, 2017. The resolution also provides for legislative proceedings during the period of January 16, 2017 through January 20, 2017. Floor H1L210 2 House floor actions 2017-01-03 Referred to the House Committee on Financial Services. IntroReferral H11100 2 House floor actions hsba00 Financial Services Committee 2017-01-03 Introduced in House IntroReferral Intro-H 9 Library of Congress 2017-01-03 Introduced in House IntroReferral 1000 9 Library of Congress W000812 Rep. Wagner, Ann [R-MO-2] Ann Wagner R MO 2 N S000250 Rep. Sessions, Pete [R-TX-32] PETE SESSIONS R TX 32 2017-01-04 False R000487 Rep. Royce, Edward R. [R-CA-39] ED ROYCE R CA 39 2017-01-09 False T000470 Rep. Tipton, Scott R. [R-CO-3] Scott Tipton R CO R. 3 2017-01-10 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) Small business Finance and Financial Sector

00 2017-01-03 Introduced in House 2017-01-09T13:58:02Z SEC Regulatory Accountability Act

This bill amends the Securities Exchange Act of 1934 to direct the Securities and Exchange Commission (SEC) to:

before issuing a regulation under the securities laws, identify the nature and source of the problem that the proposed regulation is designed to address;
adopt a regulation only upon a reasoned determination that its benefits justify its costs;
identify and assess available alternatives to any regulation; and
ensure that any regulation is accessible, consistent, written in plain language, and easy to understand.

In determining the costs and benefits of a proposed regulation, the SEC shall consider its impact on investor choice, market liquidity, and small businesses.

In addition, the SEC shall: (1) periodically review its existing regulations to determine if they are outmoded, ineffective, insufficient, or excessively burdensome; and (2) in accordance with such review, modify, streamline, expand, or repeal them.

Whenever it adopts or amends a rule that is "major" (in terms of economic impact), the SEC shall state in its adopting release: (1) the regulation's purposes and intended consequences, (2) metrics for measuring the regulation's economic impact, (3) the assessment plan to be used to assess whether the regulation has achieved its stated purposes, and (4) any foreseeable unintended or negative consequences of the regulation.

]]>

36 2017-01-12 Passed House amended 2017-01-18T21:22:30Z SEC Regulatory Accountability Act

(Sec. 2) This bill amends the Securities Exchange Act of 1934 to direct the Securities and Exchange Commission (SEC) to:

before issuing a regulation under the securities laws, identify the nature and source of the problem that the proposed regulation is designed to address;
adopt a regulation only upon a reasoned determination that its benefits justify its costs;
identify and assess available alternatives to any regulation; and
ensure that any regulation is accessible, consistent, written in plain language, and easy to understand.

In determining the costs and benefits of a proposed regulation, the SEC shall consider its impact on investor choice, market liquidity, and small businesses.

]]>

SEC Regulatory Accountability Act Display Title SEC Regulatory Accountability Act Official Title as Introduced To improve the consideration by the Securities and Exchange Commission of the costs and benefits of its regulations and orders. Introduced in House IH Short Titles as Introduced SEC Regulatory Accountability Act Short Titles as Passed House SEC Regulatory Accountability Act H House 43 115 HAMDT An amendment numbered 5 printed in Part A of House Report 115-3 to require the Chairman of the Securities and Exchange Commission to be trained on ethical standards and codes of conduct to ensure all regulations enacted are not done so with a conflict of interest, specifically regarding prior employment and legal representation of too-big-to-fail banks. Amendment sought to require the Chairman of the SEC to be trained on ethical standards and codes of conduct to ensure all regulations enacted are not done so with a conflict of interest. 2020-12-15T16:29:55Z 2017-01-12 On agreeing to the Raskin amendment (A005) Failed by recorded vote: 196 - 231 (Roll no. 49). 16:51:32 Roll no. 49 https://clerk.house.gov/evs/2017/roll49.xml R000606 Rep. Raskin, Jamie [D-MD-8] Jamie Raskin D MD 8 2017-01-12T05:00:00Z House of Representatives 115 HR House H 78 SEC Regulatory Accountability Act 2023-01-11T13:34:13Z 8 2017-01-12 16:51:32 On agreeing to the Raskin amendment (A005) Failed by recorded vote: 196 - 231 (Roll no. 49). Floor H32111 2 House floor actions 49 House 115 2017-01-12T21:51:32Z 1 https://clerk.house.gov/evs/2017/roll049.xml 2017-01-12 16:01:28 Amendment (A005) offered by Mr. Raskin. (consideration: CR H442-443, H445-446; text: CR H442) Floor H3A100 2 House floor actions 2017-01-12 16:51:32 House amendment not agreed to: On agreeing to the Raskin amendment (A005) Failed by recorded vote: 196 - 231 (Roll no. 49). Floor 73000 9 Library of Congress 49 House 115 2017-01-12T21:51:32Z 1 https://clerk.house.gov/evs/2017/roll049.xml 2017-01-12 16:51:32 Roll call votes on amendments in House Floor 75000 9 Library of Congress 49 House 115 2017-01-12T21:51:32Z 1 https://clerk.house.gov/evs/2017/roll049.xml 2017-01-12 16:51:32 Amendment failed in Committee of the Whole NotUsed 77000 9 Library of Congress 49 House 115 2017-01-12T21:51:32Z 1 https://clerk.house.gov/evs/2017/roll049.xml 2017-01-12 16:01:28 House amendment offered/reported by : Amendment (A005) offered by Mr. Raskin.(consideration: CR H442-443, H445-446; text: CR H442) NotUsed 71500 9 Library of Congress 2017-01-12 House amendment offered Floor 71000 9 Library of Congress 42 115 HAMDT An amendment numbered 4 printed in Part A of House Report 115-3 to require the Chairman of the SEC and his immediate family to divest from too-big-to-fail banks. Amendment sought to require the Chairman of the SEC and his immediate family to divest from too-big-to-fail banks. 2020-12-15T16:29:55Z 2017-01-12 On agreeing to the DeSaulnier amendment (A004) Failed by recorded vote: 194 - 233 (Roll no. 48). 16:46:56 Roll no. 48 https://clerk.house.gov/evs/2017/roll48.xml D000623 Rep. DeSaulnier, Mark [D-CA-11] Mark DeSaulnier D CA 11 2017-01-12T05:00:00Z House of Representatives 115 HR House H 78 SEC Regulatory Accountability Act 2023-01-11T13:34:13Z 8 2017-01-12 16:46:56 On agreeing to the DeSaulnier amendment (A004) Failed by recorded vote: 194 - 233 (Roll no. 48). Floor H32111 2 House floor actions 48 House 115 2017-01-12T21:46:56Z 1 https://clerk.house.gov/evs/2017/roll048.xml 2017-01-12 15:53:05 Amendment (A004) offered by Mr. DeSaulnier. (consideration: CR H441-442, H444-445; text: CR H441) Floor H3A100 2 House floor actions 2017-01-12 15:53:05 House amendment offered/reported by : Amendment (A004) offered by Mr. DeSaulnier.(consideration: CR H441-442, H444-445; text: CR H441) NotUsed 71500 9 Library of Congress 2017-01-12 16:46:56 House amendment not agreed to: On agreeing to the DeSaulnier amendment (A004) Failed by recorded vote: 194 - 233 (Roll no. 48). Floor 73000 9 Library of Congress 48 House 115 2017-01-12T21:46:56Z 1 https://clerk.house.gov/evs/2017/roll048.xml 2017-01-12 16:46:56 Roll call votes on amendments in House Floor 75000 9 Library of Congress 48 House 115 2017-01-12T21:46:56Z 1 https://clerk.house.gov/evs/2017/roll048.xml 2017-01-12 16:46:56 Amendment failed in Committee of the Whole NotUsed 77000 9 Library of Congress 48 House 115 2017-01-12T21:46:56Z 1 https://clerk.house.gov/evs/2017/roll048.xml 2017-01-12 House amendment offered Floor 71000 9 Library of Congress 41 115 HAMDT An amendment numbered 3 printed in Part A of House Report 115-3 to exempt regulations promulgated to maintain or support U.S. financial stability or prevent or reduce systemic risk. Amendment sought to exempt regulations promulgated to maintain or support U.S. financial stability or prevent or reduce systemic risk. 2020-12-15T16:29:55Z 2017-01-12 On agreeing to the Green, Al amendment (A003) Failed by recorded vote: 191 - 232 (Roll no. 47). 16:41:23 Roll no. 47 https://clerk.house.gov/evs/2017/roll47.xml G000553 Rep. Green, Al [D-TX-9] Al Green D TX 9 2017-01-12T05:00:00Z House of Representatives 115 HR House H 78 SEC Regulatory Accountability Act 2023-01-11T13:34:13Z 8 2017-01-12 16:41:23 On agreeing to the Green, Al amendment (A003) Failed by recorded vote: 191 - 232 (Roll no. 47). Floor H32111 2 House floor actions 47 House 115 2017-01-12T21:41:23Z 1 https://clerk.house.gov/evs/2017/roll047.xml 2017-01-12 15:41:21 Amendment (A003) offered by Mr. Green, Al. (consideration: CR H439-441, H443-444; text: CR H439) Floor H3A100 2 House floor actions 2017-01-12 15:41:21 House amendment offered/reported by : Amendment (A003) offered by Mr. Green, Al.(consideration: CR H439-441, H443-444; text: CR H439) NotUsed 71500 9 Library of Congress 2017-01-12 16:41:23 House amendment not agreed to: On agreeing to the Green, Al amendment (A003) Failed by recorded vote: 191 - 232 (Roll no. 47). Floor 73000 9 Library of Congress 47 House 115 2017-01-12T21:41:23Z 1 https://clerk.house.gov/evs/2017/roll047.xml 2017-01-12 16:41:23 Roll call votes on amendments in House Floor 75000 9 Library of Congress 47 House 115 2017-01-12T21:41:23Z 1 https://clerk.house.gov/evs/2017/roll047.xml 2017-01-12 16:41:23 Amendment failed in Committee of the Whole NotUsed 77000 9 Library of Congress 47 House 115 2017-01-12T21:41:23Z 1 https://clerk.house.gov/evs/2017/roll047.xml 2017-01-12 House amendment offered Floor 71000 9 Library of Congress 40 115 HAMDT An amendment numbered 2 printed in Part A of House Report 115-3 to require the SEC consider the protection of investors, in addition to promoting efficiency, competition, and capital formation when conducting such a review and also expressly instructs the SEC to consider the public interest, the protection of investors as well as the promotion of efficiency, competition, and capital formation when conducting such a review of existing SEC regulations. Amendment requires the SEC consider the protection of investors, in addition to promoting efficiency, competition, and capital formation when conducting such a review and also expressly instructs the SEC to consider the public interest, the protection of investors as well as the promotion of efficiency, competition, and capital formation when conducting such a review of existing SEC regulations. 2020-12-15T16:29:55Z 2017-01-12 On agreeing to the Velazquez amendment (A002) Agreed to by voice vote. 15:40:53 V000081 Rep. Velazquez, Nydia M. [D-NY-7] NYDIA VELAZQUEZ D NY M. 7 2017-01-12T05:00:00Z House of Representatives 115 HR House H 78 SEC Regulatory Accountability Act 2023-01-11T13:34:13Z 7 2017-01-12 15:40:53 On agreeing to the Velazquez amendment (A002) Agreed to by voice vote. Floor H32111 2 House floor actions 2017-01-12 15:36:20 Amendment (A002) offered by Ms. Velazquez. (consideration: CR H439; text: CR H439) Floor H3A100 2 House floor actions 2017-01-12 15:36:20 House amendment offered/reported by : Amendment (A002) offered by Ms. Velazquez.(consideration: CR H439; text: CR H439) NotUsed 71500 9 Library of Congress 2017-01-12 15:40:53 Amendment agreed to Committee of the Whole NotUsed 76000 9 Library of Congress 2017-01-12 15:40:53 House amendment agreed to: On agreeing to the Velazquez amendment (A002) Agreed to by voice vote. Floor 72000 9 Library of Congress 2017-01-12 House amendment offered Floor 71000 9 Library of Congress 39 115 HAMDT An amendment numbered 1 printed in Part A of House Report 115-3 to require the SEC to identify, analyze and address potential conflicts of interest related to its rulemakings. Amendment sought to require the SEC to identify, analyze and address potential conflicts of interest related to its rulemakings. 2020-12-15T16:29:55Z 2017-01-12 On agreeing to the Green, Al amendment (A001) Failed by recorded vote: 192 - 233 (Roll no. 46). 16:35:49 Roll no. 46 https://clerk.house.gov/evs/2017/roll46.xml G000553 Rep. Green, Al [D-TX-9] Al Green D TX 9 2017-01-12T05:00:00Z House of Representatives 115 HR House H 78 SEC Regulatory Accountability Act 2023-01-11T13:34:13Z 8 2017-01-12 16:35:49 On agreeing to the Green, Al amendment (A001) Failed by recorded vote: 192 - 233 (Roll no. 46). Floor H32111 2 House floor actions 46 House 115 2017-01-12T21:35:49Z 1 https://clerk.house.gov/evs/2017/roll046.xml 2017-01-12 15:27:36 Amendment (A001) offered by Mr. Green, Al. (consideration: CR H438-439; text: CR H438) Floor H3A100 2 House floor actions 2017-01-12 16:35:49 Roll call votes on amendments in House Floor 75000 9 Library of Congress 46 House 115 2017-01-12T21:35:49Z 1 https://clerk.house.gov/evs/2017/roll046.xml 2017-01-12 16:35:49 House amendment not agreed to: On agreeing to the Green, Al amendment (A001) Failed by recorded vote: 192 - 233 (Roll no. 46). Floor 73000 9 Library of Congress 46 House 115 2017-01-12T21:35:49Z 1 https://clerk.house.gov/evs/2017/roll046.xml 2017-01-12 16:35:49 Amendment failed in Committee of the Whole NotUsed 77000 9 Library of Congress 46 House 115 2017-01-12T21:35:49Z 1 https://clerk.house.gov/evs/2017/roll046.xml 2017-01-12 15:27:36 House amendment offered/reported by : Amendment (A001) offered by Mr. Green, Al.(consideration: CR H438-439; text: CR H438) NotUsed 71500 9 Library of Congress 2017-01-12 House amendment offered Floor 71000 9 Library of Congress Referred in Senate 2017-01-17T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-115hr78rfs/xml/BILLS-115hr78rfs.xml Engrossed in House 2017-01-12T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-115hr78eh/xml/BILLS-115hr78eh.xml Introduced in House 2017-01-03T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-115hr78ih/xml/BILLS-115hr78ih.xml 2017-01-17 Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. 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.