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Hensarling: SEC Chair’s Criticism of Accountability Measures “Disappointing”


 

Washington, January 17, 2017 -

House Financial Services Committee Chairman Jeb Hensarling (R-TX) issued the following statement today in response to Securities and Exchange Commission Chair Mary Jo White’s criticism of accountability legislation:

“It’s disappointing that Chair White chose to attack Congress in her final public remarks as SEC Chair simply for trying to make the SEC more accountable and to help the SEC do a better job of analyzing the costs of its many regulations.  If she’s suggesting Congress should be subservient to the SEC, I’d advise her to re-read the Constitution.  Congress created the SEC, not the other way around. 

“Entrepreneurship is at a generational low and sadly the SEC has done essentially nothing to help small business entrepreneurs.  Despite an 82 percent increase in its budget over the past decade, the SEC has consistently failed to fulfill its capital formation mission to help small businesses access capital so they can innovate, grow and hire more American workers.  No wonder she chose to focus her remarks elsewhere rather than on the SEC’s record.”

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