SEC Regulatory Accountability Act
Latest action · Apr 26, 2012 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedApr 26, 2012
- Passed SenateNot reached
- Passed HouseNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
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; (3) ensure that any regulation is accessible, consistent, written in plain language, and easy to understand; and (4) measure and seek to improve the actual results of regulatory requirements.
Directs the SEC to review its regulations and orders periodically to determine their efficacy and whether to modify or repeal them.
Cosponsors
Members who signed on, in the order they did.
Actions 2
Everything that happened, newest first.
- Apr 26, 2012Introduced in Senate
- Apr 26, 2012Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Related bills 2
Companion bills and other measures the record links to this one.
| Bill | Title | Relationship | Latest action |
|---|---|---|---|
| HR 2308 | SEC Regulatory Accountability Act | Related bill | Apr 25, 2012 |
| HR 4078 | Red Tape Reduction and Small Business Job Creation Act | Related bill | Jul 31, 2012 |
Subjects
Assigned by the Library of Congress. Policy area: Finance and Financial Sector.
Text 1
Each version as it was printed, newest first.
- Apr 26, 2012Introduced in Senate
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov.