Bill > S2373

This bill, titled the SEC Regulatory Accountability Act, aims to improve how the Securities and Exchange Commission (SEC), the government agency that oversees securities markets, considers the impact of its rules and orders. Before creating a new regulation or issuing an order, the SEC would be required to first identify the specific problem it intends to solve and assess if a new rule is truly necessary. It would also mandate the use of the SEC's Office of the Chief Economist to analyze the costs and benefits of any proposed regulation, and the SEC could only adopt it if the benefits are determined to outweigh the costs. Furthermore, the bill requires that all regulations be written in clear, accessible, and easy-to-understand language, and that the SEC actively measure and work to improve the actual outcomes of its rules. Finally, the SEC would be directed to periodically review its existing regulations and orders to ensure they are still effective and to modify or repeal them if they are found to be outdated, ineffective, or overly burdensome.