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Testimony Before the United States House Appropriations Subcommittee on Financial Services and General Government

· Paul S. Atkins, Chair of the U.S. Securities and Exchange Commission (United States)

Summary written by Dark Majestic in its own words · topics: financial stability

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· Paul S. Atkins · U.S. Securities and Exchange Commission WikiTestimony Before the United States House Appropriations Subcommittee on Financial Services and General Government

ContextFirst budget testimony of the new SEC Chair to the House subcommittee that funds the agency, whose mission is to protect investors and help companies raise capital.

Why it mattersThe SEC chair sets out to House appropriators how he plans to refocus the agency on fraud and clear disclosure.

Problems raised
  1. The SEC's systems have vulnerabilities to address.
  2. Disclosures do not always show investors the true risks.
  3. US leadership in global markets must be defended.
Solutions proposed
  1. Work with Congress and other regulators on priorities.
  2. Require disclosures that actually help investors.
  3. Fight fraud and keep the US the best place to invest.
Read full speech on sec.gov ↗

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