SEC Faces Fresh Call For Cost-Benefit Studies Under GOP Bill

Law360, New York (March 13, 2013, 1:26 PM EDT) -- The U.S. Securities and Exchange Commission on Tuesday came under yet another assault on its rulemaking powers as House Republicans introduced legislation that would subject the agency to exhaustive cost-benefit analyses of new regulations.

Rep. Scott Garrett, R-N.J., was joined by 15 GOP co-sponsors in proposing the SEC Regulatory Accountability Act, which is described as bringing the financial industry watchdog under the auspices of a 2011 executive order from President Barack Obama.

The SEC and other independent agencies are technically not required to conduct cost-benefit studies;...
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