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Subcommittee Conducts Oversight of SEC’s Division of Investment Management


Washington, Oct 23 -

The Financial Services Capital Markets and Government Sponsored Enterprises Subcommittee held a hearing to examine the Securities and Exchange Commission’s (SEC) Division of Investment Management . The Division of Investment Management is responsible for the SEC’s regulation of investment companies, variable insurance products, and federally registered investment advisers.

Subcommittee Chairman Scott Garrett (R-NJ) said in his opening statement, “As part of our oversight responsibility, this Subcommittee will be closely monitoring the SEC’s actions in this area to ensure that they actually reflect the SEC’s three-fold mission and are not simply ad hoc responses to threats from other regulatory bodies. Additionally, I am eager to hear today about the Division’s work regarding Section 913 of the Dodd-Frank Act and the Department of Labor’s fiduciary rule, as well as efforts that the Division is undertaking to promote capital formation.”

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