Published on Jul 12th, 2023 |


Key Takeaways from House Committee Letter to SEC Chairman


Brief Introduction

On June 28th, the House Financial Services Committee sent a letter to SEC Chairman, Gary Gensler, related to document requests made by the committee that they have felt were inadequate.

The letter accuses the SEC of failing to meet its own recordkeeping expectations, and accuses the chair of politicizing the SEC.

Below are a few important takeaways from the letter.

Important Takeaways from House Committee Letter to SEC Chairman 

Key Takeaways

  • The SEC Chair has met with groups on thirteen occasions that support rule proposals related to climate-risk disclosure.
  • The SEC Chair also met with groups that support the large number of rule and amendment proposals over the past year, many of which are planning to be finalized in 2023.
  • The House Financial Services Committee accuses the SEC of failing to provide full documentation on the comments received when rules were proposed.

Important Takeaways from House Committee Letter to SEC Chairman 

Vigilant’s Conclusion

Regardless of the intentions of the House Financial Services Committee, or any response to the letter that may come from SEC Chair Gensler, it is important for the industry to prepare for the intense regulatory environment to continue for the foreseeable future.

As rules continue to be finalized in 2023, Firms should take a proactive approach to their compliance and make preparations now.

Hoping for the SEC to slow down its push for greater regulation in the industry will likely lead to “on the fly” compliance practices that could bring substantial regulatory burden on your Firm.

Reach out to Vigilant today to see how you can best prepare and support your compliance practices.

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