Bloomberg Law®, an integrated legal research and business intelligence solution, combines trusted news and analysis with cutting-edge technology to provide legal professionals tools to be...
House Republicans March 5 questioned the Securities and Exchange Commission's plans to consider requiring disclosure of corporate political spending, saying the agency should conserve its resources for mandatory rulemaking.
“The Commission appears to be allocating its limited resources on a discretionary project wholly unrelated to its mandate to 'protect investors, maintain fair, orderly, and efficient markets and facilitate capital formation,'” House Financial Services Committee Chairman Jeb Hensarling (R-Texas), Oversight Committee Chairman Darrell Issa (R-Calif.), and two others said in a letter to SEC Chairman Elisse Walter.
“This is especially problematic because, as SEC staff have neither experience nor expertise regulating the disclosure of political expenditures, any such rulewriting is likely to be both staff and resource intensive.”
The lawmakers, however, said the commission's focus should be on mandatory rulemaking rather than a “discretionary rule.” Specifically, they pointed to the agency's missed deadlines in implementing the Jumpstart Our Business Startups Act. At a recent Senate hearing, the lawmakers recounted, Walter said the SEC lacks the funding to complete the rulemaking on time.
“In light of the SEC's extraordinary delays in meeting the JOBS Act's mandatory statutory deadline, an allocation of resources devoted to non-essential rulemaking raises serious questions,” the letter said.
The lawmakers asked Walter to respond to multiple questions by March 19, including how much the agency has spent on the rulemaking.
The letter can be seen at /uploadedfiles/BNA_V2/Images/From_BNA_V1/News/letterjobs(1).pdf.
All Bloomberg BNA treatises are available on standing order, which ensures you will always receive the most current edition of the book or supplement of the title you have ordered from Bloomberg BNA’s book division. As soon as a new supplement or edition is published (usually annually) for a title you’ve previously purchased and requested to be placed on standing order, we’ll ship it to you to review for 30 days without any obligation. During this period, you can either (a) honor the invoice and receive a 5% discount (in addition to any other discounts you may qualify for) off the then-current price of the update, plus shipping and handling or (b) return the book(s), in which case, your invoice will be cancelled upon receipt of the book(s). Call us for a prepaid UPS label for your return. It’s as simple and easy as that. Most importantly, standing orders mean you will never have to worry about the timeliness of the information you’re relying on. And, you may discontinue standing orders at any time by contacting us at 1.800.960.1220 or by sending an email to email@example.com.
Put me on standing order at a 5% discount off list price of all future updates, in addition to any other discounts I may quality for. (Returnable within 30 days.)
Notify me when updates are available (No standing order will be created).
This Bloomberg BNA report is available on standing order, which ensures you will all receive the latest edition. This report is updated annually and we will send you the latest edition once it has been published. By signing up for standing order you will never have to worry about the timeliness of the information you need. And, you may discontinue standing orders at any time by contacting us at 1.800.372.1033, option 5, or by sending us an email to firstname.lastname@example.org.
Put me on standing order
Notify me when new releases are available (no standing order will be created)