Two U.S. lawmakers have requested answers from the Securities and Exchange Commission (SEC) about its rulemaking process. Their request followed the latest SEC Inspector General report that “raises significant concerns that the agency is trying to enact too many rules, too quickly.”
‘SEC Is Enacting Rules Without Sufficient Feedback’
U.S. Senator Pat Toomey (R-PA) and Representative Patrick McHenry (R-NC) sent a letter to the chairman of the Securities and Exchange Commission (SEC), Gary Gensler, requesting information regarding the agency’s rulemaking process on Wednesday.
The letter references several issues identified in the October report published by the SEC Inspector General (IG), an independent office that conducts, supervises, and coordinates audits and investigations of the programs and operations of the SEC.
Senator Toomey tweeted on Friday:
I’m deeply concerned by the IG report finding that the SEC is enacting rules without sufficient feedback.
The letter details
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