SEC Rider Legal Opinion
Accompanying a congressional letter to SEC Chairwoman Mary Jo White, this legal opinion explains that an omnibus rider prevents the SEC from using FY16 funds to finalize and implement new disclosure rules, but does not prevent the agency from discussing, planning, revising, investigating or developing plans or draft proposals to prepare a final rule for after FY16.
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Author: Professor John C. Coates IV, Harvard Law School
Accompanying a congressional letter to SEC Chairwoman Mary Jo White, this legal opinion explains that an omnibus rider prevents the SEC from using FY16 funds to finalize and implement new disclosure rules, but does not prevent the agency from discussing, planning, revising, investigating or developing plans or draft proposals to prepare a final rule for after FY16.