House Committee on Oversight and Accountability tussling with the SEC over development of social engineering initiatives

October 12, 2023

Dear Chair Gensler,

The House Committee on Oversight and Accountability has been conducting oversight of the Securities and Exchange Commission (SEC), especially actions taken to circumvent Congress to further an agenda that harms American taxpayers. As the SEC Chair, you have obstructed and continue to obstruct congressional oversight. If you do not begin cooperating with the Committee’s oversight, the Committee has no choice but to consider the use of the compulsory process.

Senator Tim Scott and I wrote you on June 5, 2023, seeking documents and information on your agency’s involvement in the development of European social engineering initiatives disguised as disclosure and due diligence directives being developed by the European Union (EU).1 This Administration has hidden behind “interoperability of disclosure regimes” as its justification for global coordination. However, it is not clear that the law provides such authority and we must determine whether legislation is necessary to ensure our government works for the American taxpayer and not on behalf of foreign interests. Despite our patience, we have not received the information requested for almost four months, as the SEC has continuously delayed and misdirected.
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