October 9, 2011
The Failure to Regulate as Success
H.R. 2308, the “SEC Regulatory Accountability Act,” would establish a significant number of additional specific standards for cost-benefit analyses for Commission rules and orders. Said SEC Chairperson Mary Shapiro:
My fear about this legislation is that it layers so much analysis on top of what we already do that we’re set up to fail. There is no way this agency or any other agency could do all of these things, some of which conflict.
Well, perhaps not so much “fail” as “fail to regulate.” To some that’s failure, to others that’s success.