House Republicans Jim Jordan (R-OH), James Comer (R-KY), Patrick McHenry (R-NC) and Tom Emmer (R-MN) criticized the SEC for "aggressively" enforcing recordkeeping laws on private businesses. The representatives found such enforcement "curious" given the agency's own failures to comply with federal transparency and recordkeeping laws.
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The House Financial Services Subcommittee on Capital Markets and Government Sponsored Enterprises reviewed the "Investment Advisers Modernization Act," which would require the SEC to modernize certain rules relating to investment advisers.