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The House Financial Services Committee (“FSC”) examined the SEC's agenda, operations and fiscal year 2017 budget request at a hearing held on November 18th. FSC Chair Jeb Hensarling (R-TX) urged the SEC to (i) simplify the disclosure regime and stop requiring “political disclosure”, which "is not within the SEC's core competency"; and (ii) stop the DOL from enacting the fiduciary proposal. In her testimony, SEC Chair Mary Jo White outlined the SEC's recent activities and current initiatives as follows: the implementation of remaining congressional mandates and other significant rulemakings