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H.R. 1815, SEC Disclosure Effectiveness Testing Act (CBO Report for Congress)

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Congress 116th
Date Requested March 28, 2019
Requested By House Committee on Financial Services
Date Sent June 19, 2019
Description:
The bill would Require the Securities and Exchange Commission (SEC) to test the usability of proposed and currently mandated disclosures that financial professionals such as broker-dealers and investment advisors are required to provide to retail investors Raise the cost of an existing mandate on private entities required to pay assessments to the SEC Estimated budgetary effects would primarily stem from Hiring full time employees and contractors to test the usability of more than 100 proposed and currently mandated disclosures

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