Fifth District Congressman robert hurt (R-Virginia), Vice-Chair of the Subcommittee on Capital Markets and Government Sponsored Enterprises, delivered the following remarks last week at a subcommittee hearing entitled, “Equity Market Structure: A Review of SEC Regulation NMS:”
“Mr. Chairman, thank you for holding today’s subcommittee hearing to examine Reg NMS and our nation’s equity market structure and for your leadership on this important issue.
“Last Congress, this subcommittee led the charge to pass the jobs Act to decrease burdensome regulations and provide incentives for emerging growth companies to access capital in the public markets. While we continue to see successes of the jobs Act, it is essential that we also ensure our equity markets themselves are functioning as efficiently and effectively as possible.
“Our markets and the technology underpinning them have continued to advance even in the years since Reg NMS was implemented. I believe this hearing is an opportunity to allow members to explore how it is that our equities market have evolved since that time and where they are potentially heading in the future.
“I agree with others who have called for a holistic review of our nation’s market structure. This issue is too important and too complex for a disjointed review that could lead to unintended consequences. It is imperative that we get this right – not only for the markets but for retail investors, pensioners, innovative companies, and all market participants.
“I am encouraged that Chair White and all SEC commissioners have publicly supported the idea of a holistic review of our equity market structure. I look forward to moving this process forward so we can ensure that the United States continue to have the most efficient, competitive, and liquid markets the world has ever known.
“I’d like to thank our distinguished witnesses for appearing before the subcommittee today, and I look forward to their testimony.”
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Chris Graham
