SEC Stabilization Act of 2023

SEC Stabilization Act of 2023

This bill expands the composition of the Securities and Exchange Commission from five commissioners to six, extends the term of the commissioners from five years to six, and creates an executive director position. If appointing two commissioners whose terms end on the same date, the President is prohibited from appointing individuals from the same political party.

Bill 118 HR 4019, also known as the SEC Stabilization Act of 2023, aims to strengthen and stabilize the Securities and Exchange Commission (SEC) by providing additional resources and support. The bill was introduced in response to concerns about the SEC's ability to effectively regulate and oversee the financial markets.

The key provisions of the bill include increasing the SEC's budget to ensure that it has the necessary funding to carry out its regulatory responsibilities. This includes funding for hiring additional staff, improving technology and infrastructure, and enhancing training and education programs for SEC employees.

Additionally, the bill seeks to enhance the SEC's enforcement powers by giving it greater authority to investigate and prosecute securities fraud and other violations of securities laws. This includes expanding the SEC's ability to impose civil penalties and sanctions on individuals and companies found to be in violation of securities laws. The bill also includes provisions aimed at improving transparency and accountability within the SEC. This includes requiring the SEC to report regularly to Congress on its activities and performance, as well as enhancing oversight of the SEC by Congress and other regulatory bodies. Overall, the SEC Stabilization Act of 2023 is designed to strengthen the SEC and ensure that it has the resources and authority needed to effectively regulate and oversee the financial markets. By providing additional funding, enhancing enforcement powers, and improving transparency and accountability, the bill aims to bolster the SEC's ability to protect investors and maintain the integrity of the securities markets.