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Titles Actions Overview All Actions Cosponsors Committees Related Bills Subjects Latest Summary All Summaries

Titles (3)

Short Titles

Short Titles - House of Representatives

Short Titles as Passed House

SEC Regulatory Accountability Act

Short Titles as Introduced

SEC Regulatory Accountability Act

Official Titles

Official Titles - House of Representatives

Official Title as Introduced

To improve the consideration by the Securities and Exchange Commission of the costs and benefits of its regulations and orders.


Actions Overview (2)

Date Actions Overview
01/12/2017Passed/agreed to in House: On passage Passed by recorded vote: 243 - 184 (Roll no. 51).
01/03/2017Introduced in House

All Actions (37)

Date Chamber All Actions
01/17/2017SenateReceived in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
01/12/2017-5:13pmHouseMotion to reconsider laid on the table Agreed to without objection.
01/12/2017-5:13pmHouseOn passage Passed by recorded vote: 243 - 184 (Roll no. 51).
01/12/2017-5:07pmHouseOn motion to recommit with instructions Failed by recorded vote: 195 - 232 (Roll no. 50).
01/12/2017-5:01pmHouseThe previous question on the motion to recommit with instructions was ordered without objection.
01/12/2017-4:53pmHouseFloor summary: DEBATE - The House proceeded with 10 minutes of debate on the Bustos motion to recommit with instructions. The instructions contained in the motion seek to require the bill to be reported back to the House with an amendment pertaining to consideration of the potential outsourcing of U.S. Jobs.
01/12/2017-4:52pmHouseMrs. Bustos moved to recommit with instructions to the Committee on Financial Services. (text: CR H446)
01/12/2017-4:52pmHouseThe House adopted the amendment as agreed to by the Committee of the Whole House on the state of the Union.
01/12/2017-4:52pmHouseThe previous question was ordered pursuant to the rule.
01/12/2017-4:51pmHouseThe House rose from the Committee of the Whole House on the state of the Union to report H.R. 78.
01/12/2017-4:51pmHouseH.Amdt.43 On agreeing to the Raskin amendment (A005) Failed by recorded vote: 196 - 231 (Roll no. 49).
01/12/2017-4:46pmHouseH.Amdt.42 On agreeing to the DeSaulnier amendment (A004) Failed by recorded vote: 194 - 233 (Roll no. 48).
01/12/2017-4:41pmHouseH.Amdt.41 On agreeing to the Green, Al amendment (A003) Failed by recorded vote: 191 - 232 (Roll no. 47).
01/12/2017-4:35pmHouseH.Amdt.39 On agreeing to the Green, Al amendment (A001) Failed by recorded vote: 192 - 233 (Roll no. 46).
01/12/2017-4:12pmHousePOSTPONED PROCEEDINGS - At the conclusion of debate on the Raskin amendment, the Chair put the question on adoption of the amendment and by voice vote announced that the noes had prevailed. Mr. Raskin demanded a recorded vote and the Chair postponed further proceedings on the question of adoption of the amendment until a time to be announced.
01/12/2017-4:01pmHouseDEBATE - Pursuant to the provisions of H. Res. 40, the Committee of the Whole proceeded with 10 minutes of debate on the Raskin Part A amendment No. 5.
01/12/2017-4:01pmHouseH.Amdt.43 Amendment (A005) offered by Mr. Raskin. (consideration: CR H442-443, H445-446; text: CR H442)
01/12/2017-4:01pmHousePOSTPONED PROCEEDINGS - At the conclusion of debate on the DeSaulnier amendment, the Chair put the question on adoption of the amendment and by voice vote announced that the noes had prevailed. Mr. DeSaulnier demanded a recorded vote and the Chair postponed further proceedings on the question of adoption of the amendment until a time to be announced.
01/12/2017-3:53pmHouseDEBATE - Pursuant to the provisions of H. Res. 40, the Committee of the Whole proceeded with 10 minutes of debate on the DeSaulnier Part A amendment No. 4.
01/12/2017-3:53pmHouseH.Amdt.42 Amendment (A004) offered by Mr. DeSaulnier. (consideration: CR H441-442, H444-445; text: CR H441)
01/12/2017-3:51pmHousePOSTPONED PROCEEDINGS - At the conclusion of debate on the Al Green (TX) amendment, the Chair put the question on adoption of the amendment and by voice vote announced that the noes had prevailed. Mr. Al Green (TX) demanded a recorded vote and the Chair postponed further proceedings on the question of adoption of the amendment until a time to be announced.
01/12/2017-3:41pmHouseDEBATE - Pursuant to the provisions of H. Res. 40, the Committee of the Whole proceeded with 10 minutes of debate on the Al Green (TX) Part A amendment No. 3.
01/12/2017-3:41pmHouseH.Amdt.41 Amendment (A003) offered by Mr. Green, Al. (consideration: CR H439-441, H443-444; text: CR H439)
01/12/2017-3:40pmHouseH.Amdt.40 On agreeing to the Velazquez amendment (A002) Agreed to by voice vote.
01/12/2017-3:36pmHouseDEBATE - Pursuant to the provisions of H. Res. 40, the Committee of the Whole proceeded with 10 minutes of debate on the Velazquez Part A amendment No. 2.
01/12/2017-3:36pmHouseH.Amdt.40 Amendment (A002) offered by Ms. Velazquez. (consideration: CR H439; text: CR H439)
01/12/2017-3:36pmHousePOSTPONED PROCEEDINGS - At the conclusion of debate on the Al Green (TX) amendment, the Chair put the question on adoption of the amendment and by voice vote announced that the noes had prevailed. Mr. Al Green (TX) demanded a recorded vote and the Chair postponed further proceedings on the question of adoption of the amendment until a time to be announced.
01/12/2017-3:28pmHouseDEBATE - Pursuant to the provisions of H. Res. 40, the Committee of the Whole proceeded with 10 minutes of debate on the Al Green (TX) Part A amendment No. 1.
01/12/2017-3:27pmHouseH.Amdt.39 Amendment (A001) offered by Mr. Green, Al. (consideration: CR H438-439; text: CR H438)
01/12/2017-2:16pmHouseGENERAL DEBATE - The Committee of the Whole proceeded with one hour of general debate on H.R. 78.
01/12/2017-2:16pmHouseThe Speaker designated the Honorable Tom McClintock to act as Chairman of the Committee.
01/12/2017-2:16pmHouseHouse resolved itself into the Committee of the Whole House on the state of the Union pursuant to H. Res. 40 and Rule XVIII.
01/12/2017-2:14pmHouseRule provides for consideration of H.R. 78 and H.R. 238. The resolution provides for one hour of general debate on both H.R. 78 and H.R. 238. The resolution provides for suspension authority at any time on the legislative day of January 13, 2017. The resolution also provides for legislative proceedings during the period of January 16, 2017 through January 20, 2017.
01/12/2017-2:14pmHouseConsidered under the provisions of rule H. Res. 40. (consideration: CR H428-448; text as reported in House: CR H437-438)
01/10/2017-6:02pmHouseRules Committee Resolution H. Res. 40 Reported to House. Rule provides for consideration of H.R. 78 and H.R. 238. The resolution provides for one hour of general debate on both H.R. 78 and H.R. 238. The resolution provides for suspension authority at any time on the legislative day of January 13, 2017. The resolution also provides for legislative proceedings during the period of January 16, 2017 through January 20, 2017.
01/03/2017HouseReferred to the House Committee on Financial Services.
01/03/2017HouseIntroduced in House

Cosponsors (3)

* = Original cosponsor
CosponsorDate Cosponsored
Rep. Sessions, Pete [R-TX-32] 01/04/2017
Rep. Royce, Edward R. [R-CA-39] 01/09/2017
Rep. Tipton, Scott R. [R-CO-3] 01/10/2017

Committees (2)

Committees, subcommittees and links to reports associated with this bill are listed here, as well as the nature and date of committee activity and Congressional report number.

Committee / Subcommittee Date Activity Related Documents
House Financial Services01/03/2017 Referred to
Senate Banking, Housing, and Urban Affairs01/17/2017 Referred to

A related bill may be a companion measure, an identical bill, a procedurally-related measure, or one with text similarities. Bill relationships are identified by the House, the Senate, or CRS, and refer only to same-congress measures.


Latest Summary (2)

There are 2 summaries for H.R.78. View summaries

Shown Here:
Passed House amended (01/12/2017)

SEC Regulatory Accountability Act

(Sec. 2) This bill amends the Securities Exchange Act of 1934 to direct the Securities and Exchange Commission (SEC) to:

  • before issuing a regulation under the securities laws, identify the nature and source of the problem that the proposed regulation is designed to address;
  • adopt a regulation only upon a reasoned determination that its benefits justify its costs;
  • identify and assess available alternatives to any regulation; and
  • ensure that any regulation is accessible, consistent, written in plain language, and easy to understand.

In determining the costs and benefits of a proposed regulation, the SEC shall consider its impact on investor choice, market liquidity, and small businesses.

In addition, the SEC shall: (1) periodically review its existing regulations to determine if they are outmoded, ineffective, insufficient, or excessively burdensome; and (2) in accordance with such review, modify, streamline, expand, or repeal them.

Whenever it adopts or amends a rule that is "major" (in terms of economic impact), the SEC shall state in its adopting release: (1) the regulation's purposes and intended consequences, (2) metrics for measuring the regulation's economic impact, (3) the assessment plan to be used to assess whether the regulation has achieved its stated purposes, and (4) any foreseeable unintended or negative consequences of the regulation.