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Independent Audit of SEC Financial Regulations: Costs and Investor Protection.

This law mandates that the Comptroller General (GAO) regularly conduct an independent study of the most significant new rules issued by the Securities and Exchange Commission (SEC). The goal is to compare the projected costs of these regulations with their actual costs and assess whether they truly protect investors and promote economic growth. This provides citizens with greater transparency regarding the effectiveness of market regulators.
Key points
Requires a mandatory, independent review of the SEC's most significant new financial regulations every three years.
The review will compare the actual costs of rules against initial projections and evaluate their effectiveness in protecting investors.
The findings will be reported to Congress, increasing oversight of capital markets and regulatory efficiency.
article Official text account_balance Process page
Expired
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Additional Information
Print number: 118_HR_8226
Sponsor: Rep. Garbarino, Andrew R. [R-NY-2]
Process start date: 2024-05-02
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-2.5-flash-preview-09-2025
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

To require the Comptroller General of the United States to carry out a study regarding major rules issued by the Securities and Exchange Commission.

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_8226.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2024-05-02.

What are the main provisions?

Key points include:

  • Requires a mandatory, independent review of the SEC's most significant new financial regulations every three years.
  • The review will compare the actual costs of rules against initial projections and evaluate their effectiveness in protecting investors.
  • The findings will be reported to Congress, increasing oversight of capital markets and regulatory efficiency.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Garbarino, Andrew R. [R-NY-2].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Financial Services.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-25.

CATEGORIES

Economy