CONGRESS FOR VOTERS

RepublicanBill · H.J.Res. 53· House(119-HJRES-53)

Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Securities and Exchange Commission relating to "Form N-PORT and Form N-CEN Reporting; Guidance on Open-End Fund Liquidity Risk Management Programs".

Rep. Clyde
Age: 63 years
Georgia
Introduced
2/12/2025
Last activity
2/12/2025 — Referred to the House Committee on Financial Services.
Sponsored by
Andrew Clyde
Cosponsors
None
Finance and Financial Sector
  1. Introduced
  2. In Committee

What this bill would do

This joint resolution aims to express congressional disapproval of a specific rule submitted by the Securities and Exchange Commission. The rule in question relates to "Form N-PORT and Form N-CEN Reporting; Guidance on Open-End Fund Liquidity Risk Management Programs." If passed, this resolution would ensure that the rule has no force or effect.

Yes

  • Would business owners be better off under this?+1

    Decreasing the regulatory burden on financial entities can benefit the broader business and investment landscape.

  • Would people with substantial wealth be better off under this?+1

    The reduction in regulatory reporting requirements may lower compliance costs for large investment funds.

The opposite

  • Does this give people more protection from unfair business practices?-2

    The resolution nullifies SEC reporting and liquidity risk management guidance which are intended to protect investors from fund volatility.

  • Does this make what the government does easier for the public to see?-2

    By nullifying the rule, the resolution reduces the frequency and detail of reporting required from open-end funds to the SEC.