Verret Testifies on Capitol Hill
Professor J.W. Verret joined former government officials at a September 15 hearing of the House Financial Services Committee to testify about Securities and Exchange Commission (SEC) operations and proposed regulatory changes. Among the topics addressed were the role of credit rating agencies in the economy, enforcement of financial regulations, and banking practices.
In his testimony, Verret argued for clarifying the SEC’s legislative mandate to conduct economic analysis and a commitment of authority to economists on staff at the SEC to ensure that new rules work for investors rather than against them. In addition, he urged that the SEC be required to consider the impact of new rules on the state-based system of business incorporation.