[Congressional Record (Bound Edition), Volume 149 (2003), Part 11]
[Extensions of Remarks]
[Page 15365]
[From the U.S. Government Publishing Office, www.gpo.gov]




      ACCOUNTANT, COMPLIANCE, AND ENFORCEMENT STAFFING ACT OF 2003

                                 ______
                                 

                             HON. TOM DAVIS

                              of virginia

                    in the house of representatives

                        Wednesday, June 18, 2003

  Mr. TOM DAVIS of Virginia. Madam Speaker, I rise in support of H.R. 
658, the ``Accountant, Compliance and Enforcement Staffing Act of 
2003,'' which was introduced by Chairman Richard Baker of the Financial 
Services Subcommittee on Capital Markets, Insurance and Government 
Sponsored Enterprises in February of this year. The legislation would 
grant the Securities and Exchange Commission the flexibility to 
circumvent current federal hiring procedures in hiring accountants, 
economists and compliance examiners at the Commission.
  The legislation being considered today is identical to the provision 
granting hiring flexibilities for the Securities and Exchange 
Commission that was considered and approved by the Government Reform 
Committee on May 7 as part of H.R. 1836, the Civil Service and National 
Security Personnel Improvement Act. The Government Reform Committee and 
the Financial Services Committee worked together with the Securities 
and Exchange Commission to craft this important legislation that should 
help to resolve some of the staffing shortages facing the Commission at 
a time when oversight of the financial markets is essential to 
restoring public confidence in the economy.
  One of my goals as chairman of the committee with jurisdiction over 
federal civil service policy is to reform agency hiring processes 
government-wide. However, in considering some of the immediate 
challenges and staff shortages facing the Commission, I felt it was 
important to address their situation immediately, and then begin to 
focus on the rest of the federal government.
  I urge my colleagues to support this legislation and I look forward 
to working with them in the future as we move toward comprehensive 
reform of federal hiring procedures.

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