SEC

Waters to Chair Gensler at SEC Oversight Hearing: You Have Much to Restore and Rebuild

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Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, gave the following statement at a full Committee virtual hearing entitled, “Oversight of the Securities and Exchange Commission: Wall Street’s Cop Is Finally Back on the Beat.” Good afternoon, and welcome back to the Committee, Chair Gensler. You have a lot to restore and rebuild. During the Trump A...

Waters Applauds SEC’s Approval of a National Stock Exchange Rule to Require Diversity Data Reporting

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Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, released the following statement on the Securities and Exchange Commission’s approval of a proposed rule that would require companies listed on a national stock exchange to meet gender and racial diversity requirements and provide diversity data of their board members. “As Chairwoman of the Financia...

Committee Passes Legislation to Advance Investor Protections, Support Manufactured Housing Communities, and Promote De Novo Depository Institutions

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The House Financial Services Committee passed eleven bills to protect investors and reduce conflicts of interest born out of payment for order flow, support manufactured housing communities, fight for everyone’s right to vote, promote de novo depository institutions, and strengthen protections for the LIBOR transition. The following bills passed the Committee en bloc #1 by a vote of 28-23. Manufac...

Waters Opening Statement at Hearing on SPACs, Direct Listings, and Public Offerings

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Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, gave the following statement a Subcommittee on Investor Protection, Entrepreneurship and Capital Markets virtual hearing entitled, “Going Public: SPACs, Direct Listings, Public Offerings, and the Need for Investor Protections.” Thank you, Chair Sherman. Special purpose acquisition companies, known a...

Waters Opening Statement at May Full Committee Markup

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Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, gave the following opening statement at a full Committee hybrid markup. Today, this Committee will mark up six bills. As Chairwoman of this Committee, I am very pleased to advance several strong legislative solutions that have been introduced by Committee Democrats. At this markup the Committee will...

Waters at Third Hearing on Ongoing Market Volatility: This Committee Is Focused on Ensuring Accountability for Wall Street

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Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, gave the following statement at a full Committee virtual hearing entitled, “Game Stopped? Who Wins and Loses When Short Sellers, Social Media, and Retail Investors Collide, Part III.” Today, this Committee convenes for part three of our series of hearings focused on market volatility related to Game...

Waters Calls on Appropriators to Fund Affordable Housing, Community Development Lending and Investments, Investor Protections and Homelessness Assistance

| Posted in Press Releases
Tags: SEC, HUD, Budget

Congresswoman Maxine Waters (D-CA), Chairwoman of the House Financial Services Committee, sent letters to senior Members of the House Committee on Appropriations urging them to fund the Minority Business Development Agency, the Community Development Financial Institutions (CDFI) Fund, the Securities and Exchange Commission (SEC), and programs that support affordable housing and address homelessnes...

Waters Announces Witnesses for Third Committee Hearing on Market Volatility

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Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, announced the following witnesses for the May 6 full committee virtual hearing entitled: “Game Stopped? Who Wins and Loses When Short Sellers, Social Media, and Retail Investors Collide, Part III.” The Honorable Gary Gensler, Chairman, U.S. Securities and Exchange Commission Michael Bodson, Presiden...

Waters Applauds Gary Gensler’s Confirmation as Chairman of the Securities and Exchange Commission

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Tags: SEC

Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, released the following statement on the confirmation of Gary Gensler as Chairman of the Securities and Exchange Commission. “I congratulate Gary Gensler on his confirmation as Chairman of the Securities and Exchange Commission (SEC). “Gary Gensler has a proven track record as a tough regulator on Wa...

Waters Provides Recommendations to President-Elect Biden on Trump Actions to Reverse

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Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, sent a letter to President-Elect Joseph R. Biden, providing recommendations on areas where the Biden Administration should immediately reverse the actions of the Trump Administration, and several actions that the Biden Administration can immediately take to coordinate the federal response to COVID-1...

Waters Demands Regulators Cease and Desist from Finalizing Midnight Rules Until President-Elect Biden Assumes Presidency

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Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the Committee on Financial Services, sent a letter to agencies within the Committee’s jurisdiction calling on them to cease and desist from finalizing any “midnight rulemakings” or other administrative actions until President-Elect Joseph R. Biden is sworn into office on January 20, 2021. “On November 3, 2020, the American people spoke with ...

Waters, House Chairs Seek Accounting of Political Appointees Burrowing into Career Positions at Dozens of Agencies

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Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, and other House Committee Chairs sent a letter to 61 federal agencies requesting information on conversions of political appointees to civil service positions during the Trump Administration. “Protecting the nonpartisan expertise of the career civil service is essential to the safety and security of...

Waters, House Committee Chairs Send Dozens of Letters Directing White House and Federal Agencies to Preserve Documents

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Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, and other Committee Chairs across the House of Representatives sent letters directing the White House and more than 50 federal agencies within their jurisdictions to comply with federal record-keeping laws and preserve information responsive to congressional subpoenas and investigations. “As the Tru...

Waters Urges SEC to Rescind Proposed Amendments that Reduce Capital Market Transparency

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Tags: SEC

Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Financial Services Committee, sent a letter to Securities and Exchange Commission (SEC) Chairman Jay Clayton, urging the SEC to rescind harmful proposed amendments to rule 13-F and rule 13f-1 of the of the Securities and Exchange Act which would reduce transparency in capital markets. “I have encouraged the Securities and Exchange ...

Waters Floor Statement in Support of Uyghur Forced Labor Disclosure Act: “We Must All Stand up Against the Unjust and Inhumane Treatment of the Uyghurs and Push China to End This Brutality Once and for All.”

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Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, gave the following floor statement in support of the Uyghur Forced Labor Disclosure Act of 2020, introduced by Representative Jennifer Wexton (D-VA), which passed on a bipartisan vote of 253-163. I rise in strong support of H.R. 6270, the Uyghur Forced Labor Disclosure Act of 2020, important legisla...

Waters, Gottheimer, Sherman, Foster, and Lynch Lead Call For SEC Investigation into Kodak; Cite Concern Over Insider Trading Related to Defense Production Act Deal

| Posted in Press Releases
Tags: SEC, COVID-19

Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, Congressman Josh Gottheimer (D-NJ), Congressman Brad Sherman (D-CA), Chairman of the Subcommittee on Investor Protection, Entrepreneurship and Capital Markets, Congressman Bill Foster (D-IL), Chairman of the Task Force on Artificial Intelligence, and Congressman Stephen F. Lynch (D-MA), Chairman of ...

Waters Condemns Deregulatory Rulemakings at SEC During the Pandemic

| Posted in Press Releases

Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, sent a letter to Jay Clayton, Chairman of the Securities and Exchange Commission (SEC), reiterating her call for the agency to halt rulemakings unrelated to the pandemic. “At the beginning of the crisis, I called on all of our financial regulators, including the Securities and Exchange Commission, t...

Waters Calls on SEC and Treasury to Resist Efforts to Roll Back Protections for Non-Traditional Workers During COVID-19 Crisis

| Posted in Press Releases

On Wednesday, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Financial Services Committee, sent a letter to Securities and Exchange Commission Chairman Jay Clayton and Treasury Secretary Steven Mnuchin, urging them to uphold safeguards put in place to protect non-traditional workers—such as contractors, freelancers, and those in the gig economy— during the Coronavirus pandemic. “Unsur...

During COVID-19 Crisis, Waters Calls on Treasury and SBA to Allow All Local, Community Financial Institutions to Participate in Program to Support Small Businesses

| Posted in Press Releases

Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Financial Services Committee, sent a letter to Steven Mnuchin, Secretary of the U.S. Department of the Treasury, and Jovita Carranza, Administrator of the U.S. Small Business Administration (SBA), urging them to ensure all financial institutions, including community banks, credit unions, minority depository institutions, and Commun...

Waters Leads Letter Urging SEC to Protect Investors and Promote International Transparency

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Tags: SEC

Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services; Congressman Eliot Engel (D-NY), Chairman of the House Committee on Foreign Affairs; Congressman Raúl Grijalva (D-AZ), Chairman of the House Committee on Natural Resources, Congressman Brad Sherman (D-CA), Chairman of the Financial Services Subcommittee on Investor Protection, Entrepreneurship, and C...

Waters Leads Letters Calling on Regulators and Financial Institutions to Protect Americans and the Financial System from Impact of Coronavirus

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Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Financial Services Committee, led six letters to Administration officials, prudential regulators, financial services organizations and credit reporting agencies expressing concerns about risks related to coronavirus disease 2019 (COVID-19) and the steps they are taking to prevent Americans and the financial system from being harmed...

Committee Passes Major Housing and Capital Markets Legislation to Support Hardworking Americans

| Posted in Press Releases
Tags: SEC, FHA, HUD, Budget

Today, the House Financial Services Committee passed seven bills to benefit consumers, investors and the economy. The bills passed by the Committee include: H.R. 149, the Housing Fairness Act, a bill introduced by Congressman Al Green (D-TX), Chairman of the Subcommittee on Oversight and Investigations, which would authorize increased funding for the Department of Housing and Urban Development’s F...

Committee Continues Efforts to Advance Legislation Benefiting Consumers and Investors

| Posted in Press Releases

Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Financial Services Committee, delivered the following opening statement at a full Committee markup to make housing more affordable and available, fight housing discrimination, and increase transparency and disclosures in the nation’s capital markets. As Prepared for Delivery In 2019, the Committee had a very productive year, and ad...

Waters and Brown Statement on SEC Proposals to Curtail Shareholder Rights

| Posted in Press Releases
Tags: SEC

Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Financial Services Committee, and Senator Sherrod Brown (D-OH), Ranking Member of the Senate Banking, Housing, and Urban Affairs Committee, issued the following statement on the SEC’s proposed rules entitled, “Amendments to Exemptions from the Proxy Rules for Proxy Voting Advice” and “Procedural Requirements and Resubmission Thresh...

Waters and Brown Blast Regulators for Allowing More Risky Trading

| Posted in Press Releases

Congresswoman Maxine Waters (D-CA), Chairwoman of the House Financial Services Committee, and Senator Sherrod Brown (D-OH), Ranking Member of the Senate Banking, Housing, and Urban Affairs Committee, sent a letter to heads of the Federal Reserve, Office of the Comptroller of the Currency (OCC), Securities and Exchange Commission (SEC), Federal Deposit Insurance Corporation (FDIC), and Commodity Fu...



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