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SEC Stabilization Act of 2023

3/7/2024, 5:45 AM

Summary of Bill HR 4019

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.

Congressional Summary of HR 4019

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.

Read the Full Bill

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Current Status of Bill HR 4019

Bill HR 4019 is currently in the status of Bill Introduced since June 12, 2023. Bill HR 4019 was introduced during Congress 118 and was introduced to the House on June 12, 2023.  Bill HR 4019's most recent activity was Referred to the House Committee on Financial Services. as of June 12, 2023

Bipartisan Support of Bill HR 4019

Total Number of Sponsors
1
Democrat Sponsors
0
Republican Sponsors
1
Unaffiliated Sponsors
0
Total Number of Cosponsors
8
Democrat Cosponsors
0
Republican Cosponsors
8
Unaffiliated Cosponsors
0

Policy Area and Potential Impact of Bill HR 4019

Primary Policy Focus

Finance and Financial Sector

Alternate Title(s) of Bill HR 4019

SEC Stabilization Act of 2023
SEC Stabilization Act of 2023
To amend the Securities Exchange Act of 1934 to expand and restructure the leadership of the Securities and Exchange Commission, and for other purposes.

Comments

Sponsors and Cosponsors of HR 4019

Warren Davidson
Warren Davidson
OhioRepublican
Daniel Meuser
Daniel Meuser
PennsylvaniaRepublican
Marjorie Taylor Greene
Marjorie Taylor Greene
GeorgiaRepublican
Tom Emmer
Tom Emmer
MinnesotaRepublican
Byron Donalds
Byron Donalds
FloridaRepublican

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