SEC Regulatory Accountability Act

Floor Speech

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Mr. FINCHER. Mr. Chairman, I rise today in support of the SEC Regulatory Accountability Act.

Title I of the JOBS Act was so important for smaller companies in trying to go public, because a lot of regulations come with the IPO process. If more and more of a company's resources have to be dedicated to government regulations, the company can't expand and create jobs. That's why we need a balanced approach to regulations.

Before I make any major decision, like every hardworking taxpayer, I use common sense. I evaluate the effect that decision will have on me, on my bank account, on my family, and so on. Why shouldn't the Federal Government ask itself those same questions? Shouldn't the SEC question if a regulation is good for business? Does it help capital formation? Will it do more harm than good or vice versa?

All we are asking the SEC to do is a simple economic analysis before issuing a potentially expensive regulatory action. I encourage my colleagues to join with me in supporting the SEC Regulatory Accountability Act.

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