S.J.Res. 59 · 118th Congress
A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of…
Full title
A joint resolution 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".
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Never voted on. It didn't reach a floor vote before the 118th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
LummisSponsor14 cosponsors · 14 R
R
Boozman
MB
R
Blackburn
JB
R
Barrasso
TB
R
Budd
MB
R
Braun
KC
R
Cramer
TC
R
Cruz
SD
R
Daines
BH
R
Hagerty
RM
R
Marshall
MR
R
Rounds
PR
R
Ricketts
TT
R
Tuberville
JD
R
Vance0 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
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.
What it does: CRS summary · Introduced in Senate · Feb 1, 2024
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.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: A joint resolution 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".
Latest action (Feb 1, 2024): Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Policy area: Finance and Financial Sector · Origin: Senate · Introduced: Feb 1, 2024
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.