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Upcoming Congressional Hearing on SEC Reform

At 10:00 am today, the House Financial Services Committee will hold a hearing entitled: "Fixing the Watchdog: Legislative Proposals to Improve and Enhance the Securities and Exchange Commission."  Witnesses will include SEC Chairman Mary Schapiro, Former SEC Chairman Harvey Pitt and Former SEC Commissioner Paul Atkins.

The hearing will examine the recommendations set forth by an independent consultant that was engaged by the SEC pursuant to the Dodd-Frank Act to assess the internal operations, structure, and the need for reform at the SEC.  It will also examine two legislative proposals aimed at improving accountability and oversight of the SEC, including draft legislation proposed by House Financial Services Committee Chairman Spencer Bachus that would overhaul the structure of the SEC.

A full list of witnesses and the text of the current legislative proposals are available here.

A copy of the independent consultant's report referred to above and the SEC's latest progress report, issued on September 9, 2011, on its implementation of the regulatory and administrative recommendations contained in that report can be found here and here.