118th Congress Finance and Financial Sector
S.J.Res. 59: Disapproval of Securities and Exchange Commission rule: Staff Accounting Bulletin No. 121
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".
Introduced
- Introduced (completed)
- Passed Senate (not reached)
- Passed House (not reached)
- To the President (not reached)
- Became law (not reached)
Summary
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 Congressional Research Service, Library of Congress.
Roll calls
No roll call votes have been held on this bill.
Amendments
No amendments were offered to this bill.
Cosponsors
- John Boozman R-AR
- Marsha Blackburn R-TN
- John Barrasso R-WY
- Ted Budd R-NC
- Mike Braun R-IN
- Kevin Cramer R-ND
- Ted Cruz R-TX
- Steve Daines R-MT
- Bill Hagerty R-TN
- Roger Marshall R-KS
- Mike Rounds R-SD
- Pete Ricketts R-NE
- Tommy Tuberville R-AL
- James David Vance R-OH
Who scored on this bill
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Other bills by Cynthia Lummis
- S. 2273: Wyoming Education Trust Modernization Act
- S. 790: To redesignate the National Historic Trails Interpretive Center in Casper, Wyoming, as the "Barbara L. Cubin National Historic Trails Interpretive Center"
- S. 1525: Common Cents Act
- S. 284: Congressional Award Program Reauthorization Act
- S.J.Res. 89: Disapproval of Bureau of Land Management rule: Buffalo Field Office Record of Decision and Approved Resource Management Plan Amendment
- S. 4245: WATER Data Improvement Act
History
- Introduced in the Senate by Cynthia Lummis.
Show the full action history (2 actions)
- Introduced in Senate
- Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.