H.J.Res. 109 — 118th Congress
Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Securities and Exchange Commission relating to "Staff Accounting Bulletin No. 121".
Sponsor
More bills from this sponsor
118th Congress| Measure | Title |
|---|---|
| H.R. 2797 · Finance and Financial Sector | Equal Opportunity for All Investors Act of 2023 |
Latest action
Jul 11, 2024The Chair directed the Clerk to notify the Senate of the action of the House.
CRS summary
As of May 16, 2024Passed Senate
This joint resolution nullifies the rule issued by the Securities and Exchange Commission on March 31, 2022, titled Staff Accounting Bulletin No. 121. This bulletin provides accounting and disclosure guidance for entities related to their obligations to safeguard cryptoassets held for users of its platform.
A letter of opinion from the Government Accountability Office dated October 31, 2023, titled Securities and Exchange Commission—Applicability of the Congressional Review Act to Staff Accounting Bulletin No. 121 concluded that this bulletin is a rule for purposes of the Congressional Review Act.
Congressional Research Service, via api.congress.gov (public domain)
Roll-call votes
3 on record| Date | Chamber | Question | Result |
|---|---|---|---|
| Jul 11, 2024 | House | Passage, Objections of the President To The Contrary Notwithstanding | Failed (228–184) |
| May 16, 2024 | Senate | On the Joint Resolution | Joint Resolution Passed (60–38) |
| May 8, 2024 | House | On Passage | Passed (228–182) |
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