Sponsors (10)
The bill reduces regulatory burden and increases transparency by terminating unused SEC Dodd‑Frank authorities, but does so at the cost of removing potential investor protections, limiting SEC flexibility to address future risks, and creating short-term legal uncertainty.
Financial firms and small-business owners will face reduced potential regulatory burden because the bill terminates unused SEC rulemaking authorities created by Dodd-Frank.
Taxpayers and financial firms gain greater transparency about what SEC authorities have been removed because the SEC must publish a list of terminated authorities within 180 days.
Financial institutions and investors could lose potential consumer and investor protections because the bill eliminates SEC rulemaking authorities that might have been used to implement Dodd-Frank safeguards.
Taxpayers and financial markets may face greater systemic risk because removing unexercised SEC authorities reduces the agency's flexibility to respond to future financial threats.
Financial firms and small businesses may encounter short-term legal and market uncertainty while the SEC compiles and Congress reviews the list of terminated authorities.
Based on analysis of 2 sections of legislative text.
Terminates Dodd-Frank statutory authorities that let the SEC impose requirements on private entities if no NPRM or guidance was issued by Jan 1, 2025, and requires an SEC report within 180 days.
Introduced May 19, 2025 by John Peter Ricketts · Last progress May 19, 2025
Terminates, on enactment, any SEC authorities created by the Dodd-Frank Act that give the SEC discretion to impose requirements on private entities if the SEC had not issued a notice of proposed rulemaking or a guidance document for those authorities by January 1, 2025. It directs the SEC to treat Dodd-Frank amendments to the Securities Exchange Act of 1934 as included, and requires the SEC to publish and send Congress a list of every terminated authority within 180 days of enactment.