Leading Democratic lawmakers today urged the Securities and Exchange Commission to speed up its review of a proposal that would require companies to provide more specific details about the diversity of their corporate boards. The proposal, which nine public pension fund administrators submitted to the SEC almost a year ago, encourages the agency to require companies to disclose board… Read more »
Delivering remarks on the House floor in opposition to H.R. 1675 today, Congresswoman Maxine Waters (D-CA), Ranking Member of Committee on Financial Services, led Democrats in denouncing the inaptly-named “Capital Markets Improvement Act of 2016,” a bill that includes several provisions that instead of improving our capital markets, would actually harm investors, the SEC and small… Read more »
In response to a Democratic staff report highlighting shortcomings in personnel diversity policies and practices at seven major financial regulators, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, along with senior members of the panel and members of the Tri-Caucus, released the agencies’ responses to the report’s recommendations for enhancing… Read more »
During a hearing where members of the Financial Stability Oversight Council, or FSOC, appeared before the full Committee, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, underscored the need for a coordinating regulatory body in the wake of the financial crisis and highlighted its work to provide stability to investors, consumers and our national… Read more »
Federal financial services agencies have yet to reflect the racial and ethnic diversity of the American population in their workforces – this according to a Democratic Financial Services Committee staff report released during a press conference today led by Rep. Maxine Waters (D-CA), Ranking Member of the Financial Services Committee.
Senior Democratic Members in attendance included the… Read more »
The Consumer Financial Protection Bureau is not alone in having racial disparities in its performance reviews, according to a report issued Thursday by the Democrats on the House Financial Services Committee.
The report found that all seven bank, credit union and market regulators displayed significant disparities in employee evaluations, particularly among African-Americans who… Read more »
On Thursday, November 5, 2015 at 10:00 a.m., Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, will join representatives and chairs of the tri-caucus to unveil a report, highlighting federal financial services agencies’ current compliance with federal diversity provisions, trends in performance review evaluations and workforce diversity throughout… Read more »
In remarks on the House floor today, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, led Democrats in opposition to H.R. 1090, the so-called Retail Investor Protection Act, a measure that would stall the Department of Labor’s rulemaking establishing critical consumer protections from conflicted investment advice.
The top Democrat outlined the… Read more »
Following a House panel’s approval of a financial services spending bill, Congresswoman Maxine Waters (D-CA), Ranking Member of the Financial Services Committee, criticized Republicans for advancing legislation that would undermine consumer protection, weaken important Wall Street reforms and hurt regulators’ ability to protect our economy.
She released the following statement:
“This… Read more »
Following guilty pleas by five of the largest banks to criminal violations, Congresswoman Maxine Waters, Ranking Member of the Financial Services Committee, expressed her disappointment with the Department of Justice’s failure to hold any individuals criminally accountable. In addition, Waters expressed her concern with reports that the Securities and Exchange Commission (SEC) will allow… Read more »
Following reports that five of the largest banks will soon plead guilty to criminal antitrust violations and pay several billion dollars for rigging foreign currencies, the top Democrat on the Financial Services Committee is raising concerns about the possibility that the Securities and Exchange Commission (SEC) will allow these banks to continue doing business as usual, by waiving… Read more »
At a subcommittee hearing related to the Dodd-Frank Wall Street Reform Act, Congresswoman Maxine Waters, Ranking Member of the Financial Services Committee, reminded her colleagues as to why bold action was needed in the aftermath of the worst crisis since the Great Depression. She also underscored Dodd-Frank’s popularity with the American public and reiterated the few legislative days… Read more »
Congress has taken intensified interest in how the Securities and Exchange Commission should enforce the law, introducing several legislative proposals. Although quick passage of the bills is unlikely, they signal how much interest there is, at least among Democrats, about the agency’s work.
The legislation deals with insider trading, waivers from automatic bars imposed on companies… Read more »
Following the Securities and Exchange Commission’s (SEC) vote to finalize a rule expanding an exemption allowing businesses to raise up to $50 million from the public markets, six leading Democratic lawmakers on the Financial Services Committee expressed concern with the consequences of preempting critical investor protections at the state level.
Led by Congressman Maxine Waters (D-CA),… Read more »
Today, the Ranking Member of the Financial Services Committee strongly defended the right of American workers and retirees to receive honest financial advice free of double dealing and conflicts of interests.
At the second in a series of congressional forums designed to address issues facing America’s middle class, Congresswoman Maxine Waters (D-CA) defended the Obama Administration’s… Read more »
In remarks prior to testimony from Securities Exchange Commission (SEC) Chairwoman Mary Jo White, Congresswoman Maxine Waters (D-CA), Ranking Member of the Financial Services Committee, discussed her recently released draft legislation, the “Bad Actor Disqualification Act.” The proposal would increase transparency by establishing a more vigorous, fair and public process for granting… Read more »
Washington, D.C. – As Securities and Exchange Commission (SEC) Chair Mary Jo White prepares to testify before the Financial Services Committee today, Congresswoman Maxine Waters (D-CA), Ranking Member of the Financial Services Committee, has unveiled a proposal to increase transparency and establish a more vigorous, fair and public process for granting waivers of bad actor… Read more »
The Securities and Exchange Commission faces new pressure from Congress to make it harder for lawbreaking companies to hold on to important privileges that help them raise money in the markets.
Representative Maxine Waters, Democrat of California, is set to announce on Tuesday legislation that takes aim at how the commission grants the privileges. The announcement will coincide with… Read more »
Over the course of a two-day markup of Republican fiscal year 2016 budgetary priorities in the financial services sector, Financial Services Committee Democrats fought back against a Republican effort to eliminate taxpayer protections and undermine the social safety net.
Led by Ranking Member Maxine Waters (D-CA), Democrats fiercely opposed rampant mischaracterizations of critical… Read more »
Following the Securities and Exchange Commission’s decision to waive sanctions against Oppenheimer & Co., today Congresswoman Maxine Waters (D-CA), Ranking Member of the Financial Services Committee, expressed her disappointment that the SEC issued such a broad waiver of sanctions to a company with an extensive recidivist history.
Waters’ comments come as SEC Commissioners Aguilar… Read more »
Today, Congressman Stephen F. Lynch (D-MA) and Ranking Member Maxine Waters (D-CA), two prominent members of the Financial Services Committee, issued a statement regarding the announcement that Direct Edge will pay a $14 million fine to settle charges by the Securities and Exchange Commission that they failed to disclose how some order types, created at the behest of high frequency… Read more »
Two prominent members of the Financial Services Committee, Ranking Member Maxine Waters (D-CA) and Congressman Stephen Lynch (D-MA), are calling on the Securities and Exchange Commission (SEC) to study the North American Securities Administrators Association’s (NASAA) new Coordinated Review program, and not “undermine crucial investor protections by preempting the states’… Read more »
Today, eight Democratic members of House Committees on Financial Services and Oversight and Government Reform (OGR) called on the Securities and Exchange Commission (SEC) to send a strong message that corporate practices to deter whistleblowers from reporting violations of securities laws will not be tolerated.
In a letter to SEC Chair Mary Jo White, Financial Services Ranking Member… Read more »
WASHINGTON, DC – Citing abuse of the legislative process by House Republicans, Congresswoman Maxine Waters (D-CA) Ranking Member of the Financial Services Committee, voiced her strong opposition to two measures that came before the House tonight.
Waters expressed her frustration with the circumventing of the legislative process to bring large and controversial measures to the floor… Read more »
Following the Securities and Exchange Commission’s (SEC) approval of its long awaited rules for money market mutual funds, Congresswoman Maxine Waters (D-CA), Ranking Member of the Financial Services Committee, released the following statement noting the SEC’s progress and underscoring the importance of the Financial Stability Oversight Council in moving these rules toward completion.
… Read more »
