Hensarling and Huizenga Issue Statement on Jay Clayton
Washington,
March 23, 2017 -
As the Senate Banking Committee meets this morning for a hearing on Jay Clayton’s nomination to serve as Chairman of the Securities and Exchange Commission (SEC), Financial Services Committee Chairman Jeb Hensarling (R-TX) and Capital Markets, Securities and Investment Subcommittee Chairman Bill Huizenga (R-MI) issued the following statement:
“Entrepreneurship is at a generational low and sadly the SEC did essentially nothing during the Obama years to help small business entrepreneurs. The only real success was the bipartisan JOBS Act, which originated in Congress and which, unfortunately, the SEC has been slow to implement. Despite an 82 percent increase in its budget over the past decade, the SEC has consistently failed to help small businesses access capital so they can innovate, grow and hire more American workers. We are confident that Jay Clayton will lead the SEC in a better direction and clear away regulatory roadblocks that hinder small businesses and entrepreneurs from accessing the capital they need.
“We’re also very pleased with his commitment to fight fraud in our financial system. The Financial CHOICE Act, the Republican plan to replace the failed Dodd-Frank regulatory law, includes the toughest penalties in history for those who commit fraud, deception and self-dealing.
“If we’re going to have a healthier economy with strong growth and more jobs, investors must be protected and entrepreneurs must have better access to capital.”
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