House Subcommittee Holds Hearing on SEC Oversight

Earlier in May, the House Financial Services Subcommittee on Capital Markets held a hearing entitled, “SEC Enforcement: Balancing Deterrence with Due Process.” Subcommittee Chairwoman Ann Wagner (R-MO) emphasized that the Securities and Exchange Commission’s enforcement policy must strike the right balance between deterring and punishing securities fraud, preserving due process rights, and protecting the interests of those who rely on U.S. markets. Republicans on the Subcommittee focused on the notice and comment process, due process violations in matters adjudicated by an Administrative Law Judge, and regulation by enforcement. Subcommittee Ranking Member Brad Sherman (D-CA) focused his remarks on the digital assets space noting that the SEC is in the best position to regulate intangible investment assets.

Click here to watch the archived video of the Subcommittee hearing.