Securities and Exchange Commission Chair Gary Gensler is testifying before the House Financial Services Committee today. It will be very much like his testimony two weeks ago to the Senate Banking Committee: a forum for Republicans to attack Gensler for being overzealous and overreaching in his rulemaking proposals. Republicans are increasingly apoplectic about the more than 40 rules Gensler has been proposing,…
The tone of the industry commentary toward Gensler has become increasingly hostile and bitter:"''Comment letters' are a facade because it is all but impossible for the market to digest, process and respond to thousands of pages of draft regulation in only a few months' time, and regardless, their points are often dismissed without meaningful study or explanation," Wegner wrote.
For example, six financial trade associations this month sued the SEC over its new Private Funds Adviser Rule, which requires registered private fund advisers to undergo an annual financial statement audit. The trade associations claim the SEC exceeded its statutory authority and acted arbitrarily and capriciously., one of the world's largest market makers.
Take Climate-Related Disclosures, which were proposed in March 2022 but have not been adopted yet. They would require publicly-traded companies to disclose detailed emissions data and climate risk management strategies, including direct and indirect greenhouse gas emissions from their supply chains. Republicans have claimed this is beyond the SEC's mandate. Gensler, in his prepared testimony, says the SEC"has no role as to climate risk itself.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Judiciary Committee controlled by House Republicans hear testimony on Chicago crime at FOP HQMembers of the Republican-controlled House Judiciary Committee are in Chicago Tuesday, to talk about crime.
Read more »
Gary Gensler Is Wrong About Proof-of-Stake TokensThe Securities Exchange Commission Chair said the 'investing public' may expect a return from staking. Polymesh's Graeme Moore argues that doesn't make these cryptocurrencies securities.
Read more »
U.S. House Lawmakers Push SEC’s Gensler to Approve Spot Bitcoin ETF ‘Immediately’Members of the House Financial Services Committee – two from each party – wrote a letter to Securities and Exchange Commission Chair Gary Gensler urging ETF action.
Read more »
Lawmakers urge Gensler to allow spot bitcoin ETFs 'immediately'A group of lawmakers pressed SEC Chair Gary Gensler to urgently allow the listing of a spot bitcoin ETF on Tuesday.
Read more »
Gensler calls for crypto compliance ahead of Wednesday hearingSEC Chair Gensler held fast to his stance that most cryptocurrencies are subject to federal securities laws ahead of Wednesday's hearing.
Read more »
Members of US FSC urge SEC Chair Gensler to immediately approve spot Bitcoin ETFsThe discourse surrounding the spot Bitcoin Exchange Traded Funds (ETFs) is reaching its pinnacle as key lawmakers are now stepping in to resolve the m
Read more »