Pledging
These are the original issues in this subcategory
  • SECURITIES AND EXCHANGE COMMISSION
  • DERIVATIVES
  • BANK BAILOUTS
Winning Issue » SECURITIES AND EXCHANGE COMMISSION


The Securities and Exchange Commission (SEC) was created during the Great Depression to protect the interests of investors. Its’ 4,000 employees oversee nearly 12,000 investment counselors, 10,000 mutual funds and 4,500 brokerage firms. Many people think the SEC has not been very effective in doing its job of making rules, preventing fraud and maintaining fair and orderly markets. The SEC has been plagued by problems and mistakes such as conflict-of-interest questions in its general counsel’s office, and its record of almost never taking violators to court. In defense of its record, the SEC says it annually reviews many thousands of financial statements and corporate disclosures each year. It claims its lawyers go up against corporations that spend more on lawyers’ fees than the SEC’s entire annual budget. Critics say the often-close relationships this regulatory agency shares with the companies it regulates hinder effective enforcement. Nearly 5 years after Congress ordered the SEC to formulate rules to make it easier to recover unearned pay from executives of companies accused of wrongdoing, these rules have yet to be written. Detractors claim the penalties the SEC levies against companies are not an effective deterrent and that criminal convictions against the executives of these companies are extremely rare.


Pending Legislation:
H.R.1463 - SEC Revolving Door Restriction Act of 2015



Polling Options

  • I oppose reforming current Securities and Exchange Commission policy and wish to defeat H.R.1463 - SEC Revolving Door Restriction Act of 2015, and also wish to donate resources to the campaign committee of either Rep. Paul Ryan or Sen. Mitch McConnell
  • I support stronger SEC enforcement measures including increasing the money penalties in administrative and civil actions involving securities laws violations; prescribing a fourth tier penalty of triple monetary penalties for noncompliance with certain enforcement actions if the violator, within the five-year period preceding the prohibited act, was criminally convicted for securities fraud or became subject to a judgment or order imposing monetary, equitable, or administrative relief in any SEC action alleging fraud by such violator, and wish to either reintroduce S.286 - Stronger Enforcement of Civil Penalties Act of 2013 (113th Congress 2013-2014), or a similar version thereof, and also wish to donate resources to the campaign committee of Sen. Jack Reed (RI) or to an advocate group currently working with this issue
  • I support amending the Securities Exchange Act of 1934 to subject to federal criminal penalties for bribery, graft, and conflicts of interest an ex-employee of the Securities and Exchange Commission (SEC) who, within one year after ending employment with the SEC, works for any company or individual against whom the SEC brought an enforcement action (or a related waiver) within the previous 18 months and the ex-employee participated in that action; requiring any employee who seeks to work for such a company or individual to first receive an ethics opinion from the SEC on whether permission to do so should be granted, and wish to pass H.R.1463 - SEC Revolving Door Restriction Act of 2015, and also wish to donate resources to either the campaign committees of Rep. Jeb Hensarling (TX) and/or Rep. Stephen Lynch (MA), or to an advocate group currently working with this issue


Winning Option

  • I support stronger SEC enforcement measures including increasing the money penalties in administrative and civil actions involving securities laws violations; prescribing a fourth tier penalty of triple monetary penalties for noncompliance with certain enforcement actions if the violator, within the five-year period preceding the prohibited act, was criminally convicted for securities fraud or became subject to a judgment or order imposing monetary, equitable, or administrative relief in any SEC action alleging fraud by such violator, and wish to either reintroduce S.286 - Stronger Enforcement of Civil Penalties Act of 2013 (113th Congress 2013-2014), or a similar version thereof, and also wish to donate resources to the campaign committee of Sen. Jack Reed (RI) or to an advocate group currently working with this issue
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Pledge Period - Opening Date
February 20, 2020
Pledge Period - Closing Date
March 4, 2020
Trustee Election - Begins
February 27, 2020


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