SIFMA along with other associations submitted a joint letter to the Securities and Exchange Commission (SEC) regarding the need for sufficient comment periods, cost benefit analysis and meaningful public input in the regulatory rulemaking process.

EXCERPT

April 5, 2022

Via Electronic Submission

Honorable Gary Gensler
Chair
U.S. Securities and Exchange Commission
100 F Street N.E.
Washington, DC 20549

Re: Importance of Appropriate Length of Comment Periods

Dear Chair Gensler:

As you have highlighted in many contexts, the U.S. Securities and Exchange Commission’s (Commission) tripartite mission is to protect investors, maintain fair, orderly, and efficient markets, and facilitate capital formation.1

.@SIFMA, @USChamber, @ABABankers, @ICI & 20+ associations submitted a joint letter to @SECGov regarding “overlapping and serially short comment periods” and the need for meaningful public input in the SEC rulemaking process.

Read the letter?https://t.co/HjCVQsLwlq h/t @SalArnuk pic.twitter.com/14Wu1iDdNW

— Kurt Wolfe (@Enforce_Update) April 11, 2022

The rules crafted and enforced by the Commission are the vital foundation of the Commission’s critical mission objectives. The Associations,2 however, are concerned that meaningful public input into the rulemaking process, a pivotal element of ensuring that the Commission’s rules are appropriately tailored and that the Commission is meeting its statutory obligations and tripartite mission, is at risk of being lost in the Commission’s current rulemaking agenda.

Sufficient time for meaningful public input into individual proposals and more holistically on the Commission’s rulemaking agenda and the possible interconnectedness of these proposals is vitally important and ultimately could have a significant impact on savers, investors, capital formation, and economic growth and job creation.3

Source: SIFMA

This is a letter to the @SECGov signed by a plethora of industry trade groups… Including @SIFMA, STA , and ICI

I have never seen this many on the same side…. https://t.co/BkFxPOwq19

— Sal Arnuk (@SalArnuk) April 11, 2022