Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, delivered the following opening statement at a Subcommittee hearing on Capital Markets entitled, “Oversight of the SEC’s Division of Corporation Finance.”

Thank you, Director Gerding for your attendance here today. This is the second week where Republicans are pressing their culture wars. What’s become clear is that Republicans don’t like that the SEC wants investors to have information about companies they seek to own, or to have the ability to strengthen governance of the companies they own.

The Division of Corporation Finance plays a critical role in reviewing the disclosures public companies make about themselves so that investors can understand the financial risks of where they place their hard-earned savings. I commend the Division for its good work in protecting investors and improving transparency in our capital markets. You, Director, are strengthening capitalism in America.

I yield back.

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