/  H.R. 78—SEC Regulatory Accountability Act

H.R. 78 - SEC Regulatory Accountability Act

Bill Text

  • Text of H.R. 78 PDF XML

    SEC Regulatory Accountability Act (as introduced)

Rule Information

COMMITTEE ACTION:
REPORTED BY VOICE VOTE on Tuesday, January 10, 2017.

FLOOR ACTION ON H. RES. 40: 
Agreed to by record vote of 233-170, after agreeing to the previous question by record vote of 232-168 on Wednesday, January 11, 2017.

MANAGERS:Newhouse/Polis

1. Structured rule for H.R. 78.  

2. Provides one hour of general debate equally divided and controlled by the chair and ranking minority member of the Committee on Financial Services or their respective designees.  

3. Waives all points of order against consideration of the bill. 

4. Provides that the bill shall be considered as read.

5. Waives all points of order against provisions in the bill.   

6. Makes in order only those amendments printed in part A of the Rules Committee report. Each such amendment may be offered only in the order printed in the report, may be offered only by a Member designated in the report, shall be considered as read, shall be debatable for the time specified in the report equally divided and controlled by the proponent and an opponent, shall not be subject to amendment, and shall not be subject to a demand for division of the question. 

7. Waives all points of order against the amendments printed in part A of the report.

8. Provides one motion to recommit with or without instructions.  

9. Structured rule for H.R. 238. 

10. Provides one hour of general debate equally divided and controlled by the Majority Leader and the Minority Leader or their respective designees.     

11. Waives all points of order against consideration of the bill. 

12. Makes in order as original text for the purpose of amendment an amendment in the nature of a substitute consisting of the text of the Rules Committee Print 115-2, and provides that it shall be considered as read.  

13. Waives all points of order against that amendment in the nature of a substitute.  

14. Makes in order only those amendments printed in part B of the Rules Committee report. Each such amendment may be offered only in the order printed in the report, may be offered only by a Member designated in the report, shall be considered as read, shall be debatable for the time specified in the report equally divided and controlled by the proponent and an opponent, shall not be subject to amendment, and shall not be subject to a demand for division of the question.

15. Waives all points of order against the amendments printed in part B of the report.    

16. Provides one motion to recommit with or without instructions. 

17. Section 3 provides that on any legislative day during the period from January 16, 2017, through January 20, 2017: the Journal of the proceedings of the previous day shall be considered as approved; and the Chair may at any time declare the House adjourned to meet at a date and time to be announced by the Chair in declaring the adjournment.

18. Section 4 provides that the Speaker may appoint Members to perform the duties of the Chair for the duration of the period addressed by section 3. 

19. Section 5 provides that it shall be in order at any time on the legislative day of January 13, 2017, for the Speaker to entertain motions that the House suspend the rules as though under clause 1 of rule XV, and that the Speaker or his designee shall consult with the Minority Leader or her designee on the designation of any matter for consideration pursuant to this section. 

Amendments (click headers to sort)

#Version #Sponsor(s)PartySummaryStatus
2Version 1DeSaulnier (CA)DemocratRequires the Chairman of the SEC and his immediate family to divest from too-big-to-fail banks.Made In Order
6Version 1Green, Al (TX)DemocratLate Exempts regulations promulgated to maintain or support U.S. financial stability or prevent or reduce systemic risk. Made In Order
3Version 2Hartzler (MO)RepublicanWithdrawn Expresses the sense of Congress that to the extent the Consumer Financial Protection Bureau regulates the same financial institutions and services as the Securities and Exchange Commission, the CFPB should also perform a cost-benefit analysis of any regulation the agency considers proposing. Withdrawn
5Version 1Raskin (MD)DemocratLate Requires the Chairman of the Securities and Exchange Commission to be trained on ethical standards and codes of conduct to ensure all regulations enacted are not done so with a conflict of interest, specifically regarding prior employment and legal representation of too-big-to-fail banks. Made In Order
1Version 3Velazquez (NY)DemocratRevised Requires the SEC consider the protection of investors, in addition to promoting efficiency, competition, and capital formation when conducting such a review and also expressly instructs the SEC to consider the public interest, the protection of investors as well as the promotion of efficiency, competition, and capital formation when conducting such a review of existing SEC regulations. Made In Order
4Version 1Waters (CA)DemocratRequires the SEC to identify, analyze and address potential conflicts of interest related to its rulemakings.Made In Order