Sponsors (9)
The bill reduces potential regulatory burdens and increases transparency by eliminating unused SEC authorities, but it does so at the risk of removing tools for investor protection and limiting the SEC's ability to respond to future financial risks, creating possible oversight gaps and short-term legal uncertainty.
Financial firms and small businesses face reduced regulatory burden because the bill terminates unused SEC rulemaking authorities created by Dodd-Frank, potentially lowering compliance costs and regulatory uncertainty.
Taxpayers and market participants get clearer information because the SEC must publish a list of terminated authorities within 180 days, increasing transparency about the agency's remaining powers.
Financial institutions and taxpayers could lose potential consumer and investor protections because the bill removes authorities the SEC might have used to implement safeguards under Dodd-Frank.
Taxpayers and financial firms may face greater systemic risk in the future because stripping unexercised rulemaking authorities could limit the SEC's ability to respond quickly to new or emerging financial threats.
Financial firms and small businesses may experience legal and market uncertainty in the near term while the SEC compiles the list and Congress reviews which authorities were terminated, possibly complicating compliance planning.
Based on analysis of 2 sections of legislative text.
Terminates unused Dodd-Frank–created SEC authorities to impose requirements on private entities if no proposed rule or guidance was issued by Jan 1, 2025, and requires a 180‑day public list to Congress.
Introduced May 19, 2025 by John Peter Ricketts · Last progress May 19, 2025
Terminates specified SEC authorities created by the Dodd-Frank Act that would allow the Commission to impose requirements on private entities when the SEC had not issued a proposed rule or formal guidance by January 1, 2025, and directs the SEC to publish a list of terminated authorities within 180 days. It also treats Dodd-Frank amendments to the Securities Exchange Act as covered by this rule. The change takes effect on enactment and forces the SEC to identify and report which discretionary authorities were ended, creating immediate regulatory change for any pending or prospective rulemakings tied to those authorities.