Brad Campbell Discusses DOJ and SEC Rulemaking Efforts With Pensions & Investments
In “GOP Will Look To Defang SEC, DOL Regulations,” Pensions & Investments turned to benefits and executive compensation partner Brad Campbell for his commentary on the potential impact of November’s midterm elections on rulemaking efforts by the United States Department of Labor (DOL) and Securities and Exchange Commission.
“From an oversight perspective, [Republicans] would now be asking questions from a position of authority that the Biden administration would have to respond to more robustly than they do now,” said Campbell. “That lends lots of opportunities for Congress to try to change the direction of the department or make it particularly hard to deal with that oversight.”
Campbell noted that if Republicans win control of at least one chamber of Congress, it would be highly unlikely that much legislation would pass, which would then place an even greater focus on regulatory matters. “In that effect, really the only policy game in town would be the regulatory side of things,” he added.
“Even though we fully expect that the Biden administration will be flexing its regulatory muscles in the second half of their current term, and clearly DOL has big items on its agenda to do that with ... there’s probably going to be more pressure for them to act if there’s a divided Congress, such that the legislative avenue that the Democrats currently have, which albeit is narrow, if there’s a divided Congress that avenue would dwindle further,” explained Campbell.
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