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Schapiro Says SEC Will Change Cost Calculation of Regulation

The U.S. Securities and Exchange Commission is developing a new method for calculating the cost of rule-making in response to challenges from courts and lawmakers, Chairman Mary Schapiro told a House panel today.

Schapiro has instructed SEC staff to consider the cost of both congressional mandates and rules the agency is developing through its own authority, she said in testimony before the House Oversight and Government Reform subcommittee hearing in Washington. The move is in response to an SEC inspector general report that suggested the agency doesn’t consider the economic effects of rules mandated by the Dodd-Frank Act.