Congressman Criticizes SEC Chair for Violations of SAB 121 Rule
Tom Emmer, a prominent House of Republicans member and majority whip, has publicly criticized Gary Gensler, the Chairman of the Securities and Exchange Commission (SEC), for his handling of Staff Accounting Bulletin (SAB) 121. Emmer argues that Gensler’s approach goes against the SEC’s core objectives of protecting investors, fostering capital formation, and maintaining fair and efficient markets. The congressman’s concerns stem from fears that the implementation of this new regulation may result in excessive regulatory interference.