Several U.S. congressmen, including Tom Emmer and Warren Davidson, are co-leading a bill to remove SEC Chairman Gary Gensler, alleging that he 'sides with Wall Street, not Main Street.' This move comes amid concerns about conflicts of interest, with Senator Elizabeth Warren advocating for a ban on congressional members owning and trading individual stocks. Additionally, mutual funds are opposing the SEC's plan to impose tougher liquidity rules, citing potential negative impacts on returns and the closure of funds holding illiquid assets.
Even @RepRitchie has had enough. @SECGov @SecGensler's heavy handed tactics are harming business, American competitiveness and consumers #FoxNews #CryptoNews https://t.co/KyoRZ4PKcL
US mutual funds have redoubled their fight against an @SECGov plan to impose tougher liquidity rules, saying they would drag down overall returns and force funds that hold loans and other illiquid assets to close down. https://t.co/4O5WEQFQo6 via @ft
Congressman Emmer has announced he is co-leading a bill in effort to remove Gary Gensler.
JUST IN: 🇺🇸 US Congressman Tom Emmer says he is co-leading a 'SEC Stabilization Bill' in an effort to fire SEC Chairman Gary Gensler, saying he 'sides with Wall Street, not Main Street'.
JUST IN: 🇺🇸 US Congressman Tom Emmer announces he is co-leading a SEC Stabilization Bill in effort to fire Chairman Gary Gensler.
Gensler’s SEC sides with Wall Street, not Main Street. I’m proud to join @WarrenDavidson as a co-lead on his bill, the SEC Stabilization Act, so we can #FireGaryGensler.
Here’s the way I see it: you can be a member of Congress, or you can own and trade individual stocks, but you shouldn’t be able to do both at the same time. I will keep pushing to make that the law.