Tim Scott urges accountability for SEC after hearing postponed
The senators say that their proposed legislation would return the SEC to “its primary focus on ensuring the engines of the U.S. capital markets system are primed to fuel the next chapter of American exceptionalism, instead of putting up new and burdensome hurdles that limit opportunity, drive new investors out of markets, and chill innovation and competition.”
The Republicans go on to say that more oversight is a necessity at the watchdog, in order for it to uphold its three-part mission of facilitating capital formation, protecting investors, and maintaining fair, orderly, and efficient markets.
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That is not happening though, the legislation claims, saying the agency has created an “increasingly hostile regulator environment” for investors and businesses.
“This is exactly why we need to pass my Empowering Main Street in America Act to mandate the SEC Chair to testify on a semi-annual basis,” Scott concluded to FOX Business.
