[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4112 Introduced in House (IH)]

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118th CONGRESS
  1st Session
                                H. R. 4112

To amend the Securities Exchange Act of 1934 to prohibit the Securities 
  and Exchange Commission from issuing conflicting proposed or final 
 rules, to require the Commission to consider industry-specific costs, 
                        and for other purposes.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             June 14, 2023

  Mr. Donalds (for himself and Mr. Burlison) introduced the following 
    bill; which was referred to the Committee on Financial Services

_______________________________________________________________________

                                 A BILL


 
To amend the Securities Exchange Act of 1934 to prohibit the Securities 
  and Exchange Commission from issuing conflicting proposed or final 
 rules, to require the Commission to consider industry-specific costs, 
                        and for other purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Symmetry in Rules Act''.

SEC. 2. ADDITIONAL RULEMAKING REQUIREMENTS.

    (a) In General.--Section 23 of the Securities Exchange Act of 1934 
(15 U.S.C. 78w) is amended by adding at the end the following:
    ``(e) Prohibition on Conflicting Rules.--The Commission may not 
issue any proposed rule, or finalize any such rule, that conflicts 
with--
            ``(1) any existing rule; or
            ``(2) any other proposed rule.
    ``(f) Consideration of Industry-Specific Costs.--The Commission 
shall, before issuing any proposed or final rule, take into account the 
estimated cost to specific industries of complying with multiple 
rules.''.
    (b) Rule of Application.--Any proposed rule of the Securities and 
Exchange Commission that, on the date of enactment of this Act, 
violates section 23(e) of the Securities Exchange Act of 1934 shall be 
withdrawn or revised to be in compliance with such prohibition as soon 
as practicable after the date of enactment of this Act.
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