In the Press
July 7, 2023

Gensler May Have Just One Year to Tie Up Rulemaking Agenda (Ignites)

Securities and Exchange Commission Chair Gary Gensler has proposed dozens of rules. But if he doesn't finalize them before the end of next June, a potential change in the presidential administration could mean that some of his rules get frozen or reversed before they ever go into effect. The act requires an agency that is promoting the rule to send a report to Congress and the comptroller general that includes a copy of the rule, a concise general statement describing the rule, and when the proposed rule is expected to go into effect, said Jason Monfort, Financial Services and Investment Management partner. "Otherwise, the rule will go into effect at the end of that period," Monfort said to Ignites. "If Congress adjourns within 60 session days after a rule is submitted, the rule just becomes part of a review for the next session of Congress."