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Saturday, April 12, 2025

Lisa McClain introduces legislation to transfer FINRA authority to the SEC

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Lisa McClain U.S. House of Representatives from Michigan | Official U.S. House headshot

Lisa McClain U.S. House of Representatives from Michigan | Official U.S. House headshot

Chairwoman Lisa McClain has taken to social media to discuss a range of legislative activities she is involved with, highlighting efforts to enhance the integrity of financial regulations and celebrating new legal measures to boost national competitiveness.

On April 10, McClain announced the introduction of legislation aimed at transferring the regulatory authority of the Financial Industry Regulatory Authority (FINRA) to the Securities and Exchange Commission (SEC). According to McClain, this change is necessary to "restore regulatory integrity and accountability for the American people."

McClain also provided a link for further reading about the bill, encouraging people to explore in-depth information about the proposed legislation.

In a subsequent post on April 11, she expressed gratitude to former President Donald Trump for enacting what she describes as a "common-sense law" to enhance America’s competitive edge in the global arena.

Lisa McClain currently serves in the U.S. Congress, where she represents Michigan’s 9th district. She succeeded Paul Mitchell in this role in 2021. A native of Stockbridge, Michigan, McClain, 57, resides in Bruce and holds a Bachelor of Business Administration degree from Northwood University, achieved in 1997.

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