Business Owners Protection Act of 2025
The Business Owners Protection Act of 2025 would terminate certain SEC authorities that were created under the Dodd-Frank Wall Street Reform and Consumer Protection Act but have not been used. Specifically, any discretionary authority that could require private entities to take action, and for which the SEC had not issued a notice of proposed rulemaking or a formal guidance document by January 1, 2025, would be terminated automatically when the law takes effect. The bill also requires the SEC to identify and publicly list all such terminated authorities within 180 days of enactment and to submit that list to Congress. In short, it aims to roll back unused, discretionary SEC powers linked to Dodd-Frank, while increasing transparency about what authorities are being removed.
Key Points
- 1Terminates unused discretionary authorities created under Dodd-Frank that could impose requirements on private entities, provided the SEC had not issued a formal NPRM or guidance document by January 1, 2025.
- 2Termination occurs automatically on the date of enactment of this subsection.
- 3The authority to terminate includes those authorities established through amendments made by Dodd-Frank to the Securities Exchange Act.
- 4The SEC must, within 180 days after enactment, prepare and publish a public list of all authorities terminated under this provision, and submit the list to Congress.
- 5The bill does not target already active rules or authorities that have undergone formal rulemaking or guidance; it focuses on unused, discretionary authorities.