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United States · Bill · S

S. 450 (113th)

Financial Regulatory Responsibility Act of 2013

referredUnited States· United States Congress· EN

Introduced

5 March 2013

Last action

5 March 2013 · Introduced

Status

Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Sponsors

Sen. Shelby, Richard C. [R-AL], Sen. Chambliss, Saxby [R-GA], Sen. Crapo, Mike [R-ID], Sen. Johanns, Mike [R-NE], Sen. Heller, Dean [R-NV], Sen. Inhofe, James M. [R-OK], Sen. Cornyn, John [R-TX]

Subjects

Discovery layer

Source updated

12 August 2025

Summary

Financial Regulatory Responsibility Act of 2013 - Prohibits a federal financial regulatory agency from issuing notices of proposed or final rulemakings unless specified analyses have been included in them. Prohibits an agency from publishing a notice of final rulemaking if it determines that the quantified costs are greater than the quantified benefits. Requires an agency to make available on its public website sufficient information about the data, methodologies, and assumptions underlying its analyses so that its analytical results are capable of being substantially reproduced. Requires the chief economist of an agency, within five years after publication in the Federal Register of a notice of final rulemaking, to report to certain congressional committees on the economic impact of the subject regulation, including its direct and indirect costs and benefits. Requires each federal agency to develop, report to certain congressional committees, and post on its public website a plan to modify, streamline, expand, or repeal existing regulations so as to make the agency's regulatory program more effective or less burdensome in achieving its regulatory objectives. Authorizes judicial review for a person adversely affected or aggrieved by a regulation. Establishes the Chief Economists Council to report to certain congressional committees on activities of the financial regulatory agencies. Requires the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) to report separately to certain congressional committees their plans for subjecting to the requirements of this Act the Public Company Accounting Oversight Board, the Municipal Securities Rulemaking Board, and registered national securities associations on the one hand, and registered futures associations on the other.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

  1. 5 March 2013

    Introduced

    Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

    Source: IntroReferral

  2. 5 March 2013

    Introduced

    Introduced in Senate

    Source: IntroReferral

Votes

No vote records are attached yet.

Versions

Documents

3 official files

Introduced in Senate (text)

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  • Introduced in Senate (text)

    Introduced in Senate · EN · 5 March 2013

    ViewDownloadOpen at official source

  • Introduced in Senate (PDF)

    Introduced in Senate · EN · 5 March 2013

    ViewDownloadOpen at official source

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  • Introduced in Senate

    summary · EN · 5 March 2013

    Open at official source

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Sponsors

Related records

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Sources

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