Today’s American Banker includes a dead-on piece about how the Dodd-Frank Act, with its 2,300 pages and more than 400 regulations, is “regulatory overkill” with unintended consequences that hurt consumers and the economy.
“It's a fool's mission for our government to try to micro-manage our financial system — and for all the lip-service paid to balancing regulation and markets,… Read more »
Financial Services Committee Chairman Spencer Bachus today issued the following statement about the Capital Markets and Government Sponsored Enterprises Subcommittee’s hearing on small business capital formation and job creation:
"Today’s hearing continues the Committee’s ongoing efforts to promote policies that restore growth to our economy, support capital formation, and create… Read more »
Two congressional subcommittees will hold a joint hearing on Thursday to examine how the Securities and Exchange Commission (SEC) handled potential conflicts of interest involving David Becker, a former SEC general counsel who financially benefited from the Madoff Ponzi scheme.
The joint hearing will be held by the Financial Services Committee’s Oversight and Investigations… Read more »
Five bills that would make it easier for small companies to raise money and create jobs will be on the agenda Wednesday during a hearing of the Capital Markets and Government Sponsored Enterprises Subcommittee.
Raising capital is necessary for companies to create jobs, and the Financial Services Committee has
focused its attention on promoting capital formation since the beginning of the… Read more »
The Capital Markets and Government Sponsored Enterprises Subcommittee, chaired by Rep. Scott Garrett, will convene for a hearing to evaluate the need for a new standard of care for broker-dealers and a legislative proposal aimed at improving the oversight of investment advisers.
Section 913 of the Dodd-Frank Act authorized but did not require the Securities and Exchange… Read more »
The Financial Services Committee’s ongoing efforts to build a stronger housing finance system free of taxpayer guarantees will bring several of its members to New York City next week for a subcommittee field hearing.
The Capital Markets and Government Sponsored Enterprises Subcommittee, which is spearheading the committee’s efforts to end the bailout of Fannie Mae and Freddie Mac, will… Read more »
By David Hirschmann
Earlier this month, former S.E.C Chairman Arthur Levitt published an Op-Ed piece in The New York Times, entitled “Don’t Gut the S.E.C.” Mr. Levitt sees only two approaches to regulatory reform when it comes to his former agency: on the one hand, retaining the status quo, or, on the other hand, in his words, “gutting” or “eviscerating” the agency.
We are… Read more »
WASHINGTON - The Financial Services Committee is facing a busy first half of September with 11 hearings over the course of seven days on topics ranging from terrorist financing to reform of the Securities and Exchange Commission.
On Friday, Chairman Spencer Bachus announced the committee’s tentative hearing schedule for the first half of September. Witnesses for the hearings will… Read more »
Financial Services Committee Chairman Spencer Bachus is drafting legislation to restructure the Securities and Exchange Commission and implement reforms recommended by the SEC’s Inspector General, the Government Accountability Office and a consultant’s report mandated by the Dodd-Frank Act.
Chairman Bachus emphasized that the reform proposal should not be interpreted as criticism of SEC… Read more »
