A United States lawmaker wants to strip the Securities and Exchange Commission chair Gary Gensler of his salary by paying him just $1 per year.
While introducing the bill to the House Rules Committee on Nov. 6, Rep. Steve Womack outlined that the SEC, among other government agencies, had fallen prey to regulatory overreach and were becoming an undue financial burden on the government. “Specifically, we turn off rulemakings at the Securities and Exchange Commission that lack proper cost-benefit analysis and aggregate impact analysis.”
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