Chamber Statement for the Record Senate Banking Oversight Hearing on SEC

The U.S. Chamber of Commerce urges you to raise several important issues with Securities and Exchange Commission (SEC) Chair Gary Gensler during his long overdue appearance before the Committee on September 12. Oversight of the SEC is a critical priority for Congress, yet Chair Gensler has not appeared before the Senate Banking Committee since September of 2022. Over the past year, members of the Committee have lacked the opportunity to question the Chairman regarding the SEC’s ongoing attempts to fundamentally transform major aspects of the U.S. capital markets through the most aggressive regulatory agenda in modern SEC history. The Chair’s responses to written inquiries from members of Congress are frequently lackluster and avoid answering basic questions about the SEC’s rulemaking process, economic analyses, enforcement activities, and other functions that are core to the SEC’s mission. Your upcoming hearing will enable the Committee to assert its oversight responsibilities.