VoterlyH.J.Res. 109: 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".
118th Congress · Sponsored from Nebraska · In progress
What this bill does
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.
Key facts
- Status In progress
- Introduced 2024-02-01
- Policy area Finance and Financial Sector
- Cosponsors 4
- Latest action The Chair directed the Clerk to notify the Senate of the action of the House.
Sponsor
Who funds the sponsor?
Rep. Flood, Mike [R-NE-1] introduced H.J.Res. 109. On Voterly you can see their top campaign donors from public Federal Election Commission records — individuals, PACs, and industry groups (follow the money) — and compare that with how they vote.
See Rep. Flood, Mike [R-NE-1]'s donors & voting record →
Campaign donations show who helps fund the sponsor's election; they are not the same as who drafted or lobbied for the bill text. Lobbying disclosures are separate public records.
Take a position & compare alignment
Agree or disagree with H.J.Res. 109? Go to the homepage to record your view and compare your stance with how your representatives vote. See Rep. Flood, Mike [R-NE-1]'s profile to vote on their bills and check your alignment % with the sponsor.
Read the official text on Congress.gov →
Frequently asked questions
What does H.J.Res. 109 do?
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 hel…
Who sponsored H.J.Res. 109?
Rep. Flood, Mike [R-NE-1] (R) of Nebraska is the lead sponsor.
How do I find out who funds or lobbies for H.J.Res. 109?
Campaign-finance records (Federal Election Commission) show who funds the bill's sponsor. Separately, federal lobbying disclosures filed under the Lobbying Disclosure Act list the companies and lobbyists who reported lobbying on specific bills. Voterly links the sponsor's donors; lobbying records are public at the U.S. Senate and House lobbying databases.
Is H.J.Res. 109 now law?
Not yet. The current status is "In progress." See the latest action above for details.