Martin O'Malley
Democrat

Martin O'Malley's policies onGovernment

Crack down on SEC's use of waivers by requiring public votes, statements on them

Currently, the SEC has wide berth to grant “waivers” to financial institutions that break the law. These waivers allow law-breaking banks to avoid penalties that come with their violations. To crack down on this process, I will require the SEC to adopt strict procedures by which they can grant waivers. SEC Commissioners should be required to publicly vote on waivers given to too-big-to-fail banks, and require them to publicly state the reasons for their votes in detail.

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