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H. Rept. 114-403 1 (2016-01-28)

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                     114TH CONGRESS                                          REPORT
                        2d Session     HOUSE   OF  REPRESENTATIVES           114-403







                      STREAMLINING EXCESSIVE AND COSTLY REGULATIONS
                                                REVIEW ACT



                     JANUARY 28, 2016.-Committed to the Committee of the Whole House on the State
                                       of the Union and ordered to be printed



                        Mr.  HENSARLING,  from  the Committee   on Financial Services,
                                           submitted  the following


                                              REPORT

                                                together with

                                             MINORITY VIEWS

                                             [To accompany H.R. 2354]

                               [Including cost estimate of the Congressional Budget Office]

                       The  Committee  on  Financial Services, to whom  was  referred the
                     bill (H.R. 2354) to direct the Securities and Exchange  Commission
                     to review all its significant regulations to determine whether  such
                     regulations are  necessary in  the public interest or whether   such
                     regulations should be amended   or rescinded, having  considered the
                     same,  report  favorably  thereon  with   an  amendment and rec-
                     ommend   that the bill as amended  do pass.
                       The amendment is   as follows:
                       Strike all after the enacting clause and insert the following:
                     SECTION 1. SHORT TITLE.
                     This Act may be cited as the Streamlining Excessive and Costly Regulations Re-
                     view Act.
                     SEC. 2. REGULATORY REVIEW.
                     (a) REVIEW AND ACTION.-Not later than 5 years after the date of enactment of
                     this Act, and at least once within each 10-year period thereafter, the Securities and
                     Exchange Commission shall-
                          (1) review each significant regulation issued by the Commission;
                          (2) determine by Commission vote whether each such regulation-
                             (A) is outmoded, ineffective, insufficient, or excessively burdensome; or
                             (B) is no longer necessary in the public interest or consistent with the
                             Commission's mandate to protect investors, maintain fair, orderly, and effi-
                             cient markets, and facilitate capital formation;
                        59-006

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