New York, NY – This afternoon at 2:00 PM, the House Committee on Financial Services, chaired by Representative Barney Frank, will be holding a hearing of the five SEC Commissioners to discuss their views on a number of investor protection issues and financial market developments. A hearing like this including all SEC commissioners has not taken place for at least ten years.
The House Financial Services Committee is slated to discuss a wide range of topics with the commissioners, including shareholder lawsuits, corporate governance, the SEC’s enforcement policy, various aspects of Sarbanes Oxley, and hedge funds.
We have also heard that this Committee is likely to discuss the issue of soft dollars, given Chairman Cox’s recent call for Congress to either repeal or significantly modify the 28(e) safe harbor.
Recently, Chairman Cox and the SEC has come under increasing scrutiny for various positions and enforcement rulings which some see as pro-business and anti-investor.
This afternoon’s Financial Services Committee hearing will be webcast, and a link to this webcast can be found here.