WASHINGTON––Following U.S. Senator John Boozman’s (R-AR) push for an audit of the Securities and Exchange Commission’s (SEC) rulemaking process, the Senate Appropriations Committee Thursday adopted provisions in its Fiscal Year 2024 Financial Services and General Government (FSGG) bill to improve the agency’s rulemaking practices and ensure proper oversight.

“The SEC has issued an immense number of proposals at an unprecedented pace in this administration. The scope and scale of the rulemaking has been hurried resulting in critical steps in the process being skipped, including cost-benefit analyses. It’s also left stakeholders with little time to assess impacts and provide meaningful input. Incorporating measures to hold the agency accountable and ensure it’s following proper procedure is commonsense. I look forward to supporting this legislation on the Senate floor,” Boozman said.

In March, Boozman authored a letter signed by FSGG Ranking Member Bill Hagerty (R-TN) and other Senate Republicans to the Acting Inspector General calling for an audit of the SEC. The senators also shared their concerns about the limited comment periods and the challenges for stakeholders.