House Committee Chairs Demand SEC Accountability on Recordkeeping

House Committee Chairs Seek SEC Compliance

Three prominent committee chairs in the U.S. House of Representatives have issued a call for accountability from the U.S. Securities and Exchange Commission (SEC). The focus is on ensuring adherence to federal recordkeeping requirements. This demand was directed toward SEC Chair Gary Gensler, following an unsatisfactory response to a previous inquiry.

Concerns Over Recordkeeping Practices

The heads of the Judiciary, Oversight, and Financial Services Committees—Jim Jordan, James Comer, and Patrick McHenry—raised concerns about the SEC's compliance with transparency and recordkeeping rules. They highlighted the need for certification that the agency and its leader, Gensler, adhere to these federal mandates.

Transparency and Communication Issues

The committee chairs specifically called for confirmation that neither Gensler nor his staff have used private email accounts for conducting official business. Additionally, they requested clarity on the SEC's definition and handling of "off-channel communications." These concerns underscore the importance of transparency and proper communication channels within federal agencies.

Demand for Satisfactory Response

The letter from the committee chairs reflects a push for a more detailed and satisfactory response from the SEC. The emphasis on accountability and adherence to federal standards aims to ensure that the agency operates with transparency and integrity.

By addressing these key points, the committee chairs aim to hold the SEC accountable and ensure compliance with federal recordkeeping and transparency rules, which is crucial for maintaining public trust and effective governance.