This bill changes several federal securities statutes so that agencies must consider how a new rule will operate "when considered individually or cumulatively with other related rules or regulations or other related and recent proposed rules or regulations." It inserts that phrase into: Section 2(b) of the Securities Act of 1933; Section 23(a)(2) of the Securities Exchange Act of 1934; Section 2(c) of the Investment Company Act of 1940; and Section 202(c) of the Investment Advisers Act of 1940. The bill was introduced by Representative Young Kim and referred to the House Committee on Financial Services.
If your work or interests involve securities, investment companies, or investment advisers, the rules the Securities and Exchange Commission or related agencies write would need to explicitly consider the combined effects of a rule together with other related final or recent proposed rules. The text does not state how agencies must perform that review or what specific outcomes would follow.
No publicly available information on costs, savings, or budgetary effects is included in the bill text or metadata provided.
No publicly available information on supporters' stated reasons or arguments is included in the bill text or metadata provided.
No publicly available information on opponents' stated reasons or arguments is included in the bill text or metadata provided.