{"database": "press", "table": "releases", "rows": [["https://wagner.house.gov/media-center/press-releases/wagner-introduces-sec-regulatory-accountability-act-protect-retail", "Wagner Introduces SEC Regulatory Accountability Act to Protect Retail Investors, Limit Unnecessary Rulemakings", "2022-12-16", "2022", "2022-12", "Republican", "House", "MO", "Ann Wagner", "W000812", "wagner.house.gov", "wagner", "https://wagner.house.gov/media-center/press-releases", "scraper", "Washington, D.C. \u2013 Congresswoman Ann Wagner (R-MO), Vice Ranking Member of the House Financial Services Committee, introduced the SEC Regulatory Accountability Act, legislation to protect retail investors from arbitrary and unnecessary SEC rulemakings. This bill would statutorily require the SEC to identify the problem a proposed regulation is seeking to address and conduct a cost-benefit analysis of the rulemaking.\n\n\u201cRetail investors deserve consistency and transparency. The SEC Regulatory Accountability Act will help those saving for retirement, a down payment on a house, or for their children\u2019s future by making sure the SEC doesn\u2019t arbitrarily implement unnecessary and complex rules. It is vital the SEC only issues regulations that are absolutely necessary, to avoid burdening everyday investors, and this legislation will ensure all regulations are justified with compelling evidence and relevant, up-to-date analysis.\u201d\n\nBackground on the SEC Regulatory Accountability Act:\n\nBefore issuing a regulation:\n\nThe bill establishes that the SEC, before issuing a regulation, must:\n\nIdentify the nature and source of the problem that the proposed regulation is designed to address in order to assess whether any new regulation is warranted;\n\nEnsure that the proposed regulation is within the Commission\u2019s jurisdiction and that the Commission has the experience and expertise to regulate the subject matter covered by the new regulation;\n\nIdentify the market participants who will be impacted by the new regulation;\n\nUtilize the SEC Chief Economist to assess the costs and benefits of the intended regulation and adopt it only upon a reasoned determination that its benefits justify the costs;\n\nIdentify and assess available alternatives that were considered; and\n\nEnsure regulation is accessible, consistent, in plain language, and easy to understand\n\nWhile issuing a regulation:\n\nThe bill also establishes that when issuing a rule, the SEC must consider the impact of the regulation on:\n\nInvestor choice;\n\nMarket liquidity;\n\nSmall businesses;\n\nCompetition in the marketplace;\n\nInvestor access; and\n\nUnited States\u2019 economic competitiveness\n\nPost-implementation regulatory review\n\nAdditionally, the SEC must:", 1, "2026-03-30T01:40:41Z", "2026-04-08T03:32:05Z"]], "columns": ["url", "title", "date", "year", "month", "party", "chamber", "state", "member_name", "bioguide_id", "domain", "scraper", "source", "date_source", "text", "has_text", "collected_at", "updated_at"], "primary_keys": ["url"], "primary_key_values": ["https://wagner.house.gov/media-center/press-releases/wagner-introduces-sec-regulatory-accountability-act-protect-retail"], "units": {}, "query_ms": 0.9521900210529566, "source": "dwillis/congress-press", "source_url": "https://github.com/dwillis/congress-press", "license": "MIT", "license_url": "https://github.com/dwillis/congress-press/blob/main/LICENSE"}