SEC

Waters, Scott, Brown and Murray Statement on the SEC’s Fiduciary Rule Proposal

| Posted in Press Releases

Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the House Committee on Financial Services; Congressman Bobby Scott (D-VA), Ranking Member of the House Committee on Education and the Workforce; Senator Sherrod Brown (D-OH), Ranking Member of the Senate Banking Committee, and Senator Patty Murray (D-WA), Ranking Member of the Senate Health, Education, Labor and Pensions Committee, made ... Read more »

Waters Statement in Opposition to Bill That Undermines Protections for Mom and Pop Investors

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Tags: SEC

Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, gave the following floor statement in opposition to H.R. 4263, the so-called Regulation A+ Improvement Act, a bill that could harm retail investors and weaken the integrity of the U.S. capital markets. As Prepared for Delivery H.R. 4263, the so-called Regulation A+ Improvement Act, is a solution in se... Read more »

Waters Floor Statement on the Small Business Mergers, Acquisitions, Sales, and Brokerage Simplification Act

| Posted in Press Releases

Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the House Committee on Financial Services, gave the following floor statement on H.R. 477, the Small Business Mergers, Acquisitions, Sales, and Brokerage Simplification Act of 2017: H.R. 477 seeks to provide a statutory exemption from registration with the Securities and Exchange Commission, or S.E.C., for certain brokers who facilitate ... Read more »

Waters Opening Statement at Markup of 23 Bills

| Posted in Press Releases

Today, at a House Financial Services Committee markup of 23 bills, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, gave the following opening statement: As Prepared for Delivery Thank you, Mr. Chairman. Mr. Chairman, I must admit I’m disappointed that the Committee is moving forward today with marking up a large number of bills that could be harmful to co... Read more »

Waters Floor Statement Opposing Legislation to Weaken Investor Protections for Microcap Offerings

| Posted in Press Releases

Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, gave the following floor statement in opposition to H.R. 2201, the Micro Offering Safe Harbor Act: As Prepared for Delivery Mr. Speaker, H.R. 2201 would create an unnecessary and potentially dangerous loophole in federal and state securities laws by allowing companies to sell unregistered securities w... Read more »

Waters and Moore Call on SEC to Enforce Conflict Minerals Rule

| Posted in Press Releases
Tags: SEC

Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, and Congresswoman Gwen Moore (D-WI), Ranking Member of the Subcommittee on Monetary Policy and Trade, sent a letter to U.S. Securities and Exchange Commission (SEC) Chairman Jay Clayton calling on the SEC to enforce Rule 13p-1 of the Securities Exchange Act, also known as the Conflict Minerals Rule. T... Read more »

Waters Introduces Legislation to Improve SEC Process for Holding Bad Actors Accountable

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Tags: SEC

Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, introduced the Bad Actor Disqualification Act of 2017, important legislation that ensures the Securities and Exchange Commission (SEC) protects investors from bad actors by implementing a rigorous, fair, and public process for waiving automatic disqualification provisions in the law. “By waiving the c... Read more »

Waters Statement on SEC Request for Comment on Standards of Conduct for Financial Advisers

| Posted in Press Releases
Tags: SEC

Today, in response to a statement from Securities and Exchange Commission (SEC) Chairman Jay Clayton requesting public comment on the standards of conduct applicable to broker-dealers and investment advisers when providing financial advice, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, issued the following statement: “As one of his first orders of busin... Read more »

Waters Opening Statement at Markup of the Wrong Choice Act

| Posted in Press Releases

Today, at a full Committee markup of the Wrong Choice Act, a bill that repeals the most important aspects of the Dodd-Frank Wall Street Reform and Consumer Protection Act, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, gave the following opening statement: As Prepared for Delivery Thank you, Mr. Chairman. Mr. Chairman, this is one of the worst bills I’ve... Read more »

Waters: Dodd-Frank Rollback Bill Would Result in Disaster

| Posted in Press Releases

Today, at the only scheduled committee hearing to review Chairman Hensarling's Wrong Choice Act 2.0, a bill that would destroy the most important parts of the Dodd-Frank Wall Street Reform and Consumer Protection Act Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, gave the following opening statement: As Prepared for Delivery Thank you, Mr. Chairman, and ... Read more »

Waters Opening Statement at Markup of Capital Markets Bills

| Posted in Press Releases

Today, at a full Committee markup of six legislative proposals relating to our nation’s capital markets, Representative Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, gave the following opening statement: As Prepared for Delivery Thank you, Mr. Chairman. Today, we will consider a set of legislative proposals designed to improve our nation’s capital markets, which cont... Read more »

ICYMI: Financial Services Committee Republicans Oppose Amendments to Help Main Street

| Posted in Press Releases

In the House Financial Services Committee markup to consider its Budget Views and Estimates for Fiscal Year 2018, Ranking Member Maxine Waters (D-CA) and Committee Democrats urged Committee Republicans to join them in holding the Trump Administration accountable and supporting amendments that would help middle class families and the most vulnerable populations. Throughout the markup, Democrats off... Read more »

Waters Calls Out Trump’s Allegiance to Big Oil

| Posted in Press Releases

Surrounded by Republican members of the House Committee on Financial Services, today President Trump signed into law H.J. Res 41, which eliminates a bipartisan rule that made it harder for oil, gas, and mining companies to engage in bribery and corruption in developing nations. Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, issued the following statement... Read more »

Waters Strongly Opposes Republican Efforts to Dismantle Financial Regulation

| Posted in Press Releases

Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, spoke strongly against two bills pushed by Republicans to effectively roll back postcrisis financial regulation. Ranking Member Waters acknowledged the bills on the House floor today as another attempt by the majority to gut policies that have helped millions of Americans. H.R. 78, the Securities and ... Read more »

Waters: Clayton’s Strong Wall Street Ties Highlight Trump’s Conflicts of Interest

| Posted in Press Releases
Tags: SEC

Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, issued a statement following President-elect Trump’s nomination of Wall Street lawyer and Goldman Sachs adviser Jay Clayton as the head of the Securities and Exchange Commission (SEC), a major regulator of banks and Wall Street: “With this latest pick, Donald Trump is fervently continuing his campaign of nom... Read more »

Waters, Ranking Financial Services Democrats Call On Inspectors General to Hold Trump Administration Accountable

| Posted in Press Releases

Today, top Democrats on the House Financial Services Committee sent a letter to Inspectors General at federal financial services agencies, the Department of Housing and Urban Development, and the Department of Justice, calling on them to root out any potential conflicts of interests in President-elect Donald Trump’s administration. Led by Ranking Member Maxine Waters (D-CA), the letter was also si... Read more »

Waters Warns of Risks to Financial Stability, Consumer Protection and American Freedoms under Trump

| Posted in Press Releases

In her opening statement at a full committee hearing with Securities and Exchange Commission Chair Mary Jo White, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, denounced President-elect Trump’s stances on financial services and Congressional Republicans’ deregulatory Wall Street agenda. “The demise of the regulations that Wall Street is cheering are the... Read more »

Waters, Committee Democrats Push for Strong ‘Clawback’ Rule After Wells Fargo Scandal

| Posted in Press Releases

In light of more than 2 million fraudulent deposit and credit card account openings at Wells Fargo, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, and 10 Committee Democrats urged financial regulators to strengthen a proposed “clawback” rule regarding when a financial institution must revoke senior executives’ bonuses. In their letter, the Members unders... Read more »

Waters: GOP Wall Street Deregulation Plan is the Wrong Choice for America

| Posted in Press Releases

Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, derided Republicans’ reckless plan to repeal Wall Street Reform during Committee consideration of H.R. 5983. In her opening statement, Waters noted that “nearly all the rules we enacted to make banks safer and stronger would be repealed, and replaced by a phony choose-your-own regulatory regime that puts the... Read more »

Waters Leads Efforts to Oppose Private Equity Giveaways

| Posted in Press Releases

During general debate on H.R. 5424 on the House floor today, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, led opposition to the measure, which would roll back Dodd-Frank’s much-needed oversight and transparency measures for private equity funds, hedge funds, and others in the shadow banking industry. In her remarks, Waters lamented that the Republican-... Read more »

On House Floor, Waters Denounces Republican Attempts to Weaken Investor Protections

| Posted in Press Releases

During floor consideration of H.R. 2357, Congresswoman Maxine Waters (D-CA), Ranking Member of Committee on Financial Services, urged rejection of the bill, which would harm American investors and small businesses and thwart regulators’ abilities to police the markets against fraud. In her remarks, Ranking Member Waters criticized House Republicans for “prioritizing a bill that would make it easie... Read more »

Waters: Wrong Choice Act Gives Banks a ‘Hall Pass’ from Wall Street Reform

| Posted in Press Releases

In opening remarks during a Financial Services Committee hearing today, Congresswoman Maxine Waters (D-CA), the Committee’s Ranking Member, denounced Republicans’ deregulatory agenda that puts the needs of special interests above working Americans. Waters noted that Chairman Hensarling’s legislation, the “Wrong Choice Act,” to gut Dodd-Frank would make “radical changes to our financial regulatory ... Read more »

Waters Opposes Passage of Harmful Financial Services Appropriations Bill

| Posted in Press Releases

Last night, the House of Representatives passed a harmful Republican spending bill, H.R. 5485, which would underfund the nation’s financial services regulators for fiscal year 2017 and put consumer protection and financial stability at risk. Despite Democratic efforts to improve the bill through the amendment process, Republicans pushed through this legislation, which would make it harder for fina... Read more »

During Markup, Waters Warns of Risk to Investors, Consumers with Proposals to Roll Back Regulatory Framework

| Posted in Press Releases

In opening remarks during a Financial Services Committee markup today, Congresswoman Maxine Waters (D-CA), the Committee’s Ranking Member, pushed back against Republican efforts to dismantle Wall Street reforms, including much-needed investor and consumer protections. Waters noted that while she supports some of the measures under consideration, she is dismayed by broader Republican attempts to un... Read more »

Waters Denounces Financial Services Appropriations Bill

| Posted in Press Releases
Tags: CFPB, SEC

Congresswoman Maxine Waters (D-CA), Ranking Member of the House Financial Services Committee, issued the following statement on legislation that would fund financial services agencies for fiscal 2017, which the House Appropriations Committee approved today: “Republicans, once again, are using every tool at their disposal to push an agenda that would hurt consumers and threaten the stability of our... Read more »



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