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What will be the outcome of the scrutiny faced by SEC Chair Gensler over SAB 121 by the end of 2024?
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SEC•Gary Gensler•Republican•House Financial Services Committee•Patrick McHenry•Cynthia Lummis•Republicans•Staff Accounting Bulletin 121•McHenry•Gensler•Tom Emmer•Hester Peirce
Resolution / Starting Odds
SAB 121 is rescinded • 25%
SAB 121 is modified • 25%
No changes to SAB 121 • 25%
Other outcome • 25%
Official SEC announcements, Congressional records, or major news outlets
Story
SEC Chair Gensler Faces GOP Scrutiny Over SAB 121 at Sep 24-25 Hearing
Sep 24, 2024, 02:30 PM
SEC Chair Gary Gensler is facing significant scrutiny from Republican lawmakers during a House Financial Services Committee oversight hearing on Sep 24-25. Led by Rep. Patrick McHenry and Sen. Cynthia Lummis, Republicans have demanded the rescission of Staff Accounting Bulletin 121 (SAB 121), which requires entities to recognize digital assets as liabilities, amid bipartisan, bicameral opposition. McHenry has labeled the SEC a 'rogue agency,' criticizing its regulatory approach and lack of clarity on crypto assets. During the hearing, Gensler was grilled over his handling of crypto regulations, with GOP Majority Whip Tom Emmer calling him the 'most destructive and lawless Chairman of the SEC.' Hester Peirce, another SEC Commissioner, also expressed concerns about the agency's ambiguous regulatory stance.
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SAB 121 is rescinded • 25%
SAB 121 is modified • 25%
SAB 121 remains unchanged • 25%
Other • 25%
No Violation Found • 25%
Minor Violations Found • 25%
Major Violations Found • 25%
Investigation Inconclusive • 25%
Resigns and replaced by Trump appointee • 25%
Resigns and replaced by interim chair • 25%
Does not resign by deadline • 25%
Other outcomes • 25%
Very Effective • 25%
Somewhat Effective • 25%
Not Effective • 25%
Harmful • 25%
Remains in Position • 25%
Resigns • 25%
Terminated • 25%
Other • 25%
Gensler defends SAB 121 successfully • 25%
Gensler agrees to reconsider SAB 121 • 25%
Gensler faces significant backlash • 25%
Other • 25%
Widespread Boycott • 25%
Limited Boycott • 25%
No Boycott • 25%
Boycott Reversed • 25%