While Republican and Democratic lawmakers are eagerly anticipating shifts in both the House and Senate, those on the north side of Capitol Hill at the Securities and Exchange Commission’s (SEC) headquarters are confident the 3-2 Democratic majority will remain intact. That is, until the 2024 election.
In an Investment News article, asset management counsel Jamie McGinnis noted Republicans are unlikely to push SEC Chairman Gary Gensler off course but rather, “The influence will be on the margins.”
If a capital formation bill is approved by Congress and signed by President Biden, “those rulemakings will be forced on to the [SEC] agenda, and lower-priority rules would be pushed further down,” he said.
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