S. 2373 (112th): SEC Regulatory Accountability Act

Introduced:
Apr 26, 2012 (112th Congress, 2011–2013)
Sponsor:
Sen. David Vitter [R-LA]
Status:
Died (Referred to Committee)

The bill’s title was written by the bill’s sponsor. S. stands for Senate bill.

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Status

This bill was introduced on April 26, 2012, in a previous session of Congress, but was not enacted.

Progress
Introduced Apr 26, 2012
Referred to Committee Apr 26, 2012
Cosponsors
none
Committees

Senate Banking, Housing, and Urban Affairs

The committee chair determines whether a bill will move past the committee stage.

Full Title

A bill to improve the consideration by the Securities and Exchange Commission of the costs and benefits of its regulations and orders.

Summary

No summaries available.

Text

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Last updated Apr 26, 2012.
5 pages

Primary Source

View on THOMAS (The Library of Congress)

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Citation

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GovTrack’s Bill Summary

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Library of Congress Summary

The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress.

4/26/2012--Introduced.
SEC Regulatory Accountability Act - Amends the Securities Exchange Act of 1934 to require the Securities and Exchange Commission (SEC), before promulgating a regulation or issuing any order, to:
(1) identify the nature and significance of the problem that the proposed regulation is designed to address in order to assess whether any new regulation is warranted;
(2) use the Office of the Chief Economist to assess the costs and benefits of the intended regulation and adopt it only on a determination that its benefits justify the costs;
(3) ensure that any regulation is accessible, consistent, written in plain language, and easy to understand; and
(4) measure and seek to improve the actual results of regulatory requirements.
Directs the SEC to review its regulations and orders periodically to determine their efficacy and whether to modify or repeal them.

House Republican Conference Summary

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No summary available.

House Democratic Caucus Summary

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The bill contains the following citations to other parts of U.S. law:

United States Code

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