At a hearing of the Committee on Banking, Housing and Urban Affairs regarding oversight of the S.E.C., Senator Tim Scott, Republican of South Carolina, said the commission was proposing rules and regulations at “a breakneck pace.” Mr. Scott, who is seeking the 2024 Republican nomination for president, said the commission did not always give businesses and investors sufficient time to “digest complex rule changes” and fully respond.
Senator Katie Britt, Republican of Alabama, said some of the rules the S.E.C. had proposed were “half-baked” and were not intended to address a “market failure” like the financial crisis of 2008.
Some of the proposed rules that senators singled out concerned climate change disclosures by public companies and regulating the use of predictive analytical programs, like artificial intelligence, by investment advisers.
Source: Senate Republicans Grill S.E.C. Chair on Pace of Rule Making – The New York Times
