In May, the SEC proposed reducing those disclosures to two times a year. Days later, the SEC proposed rules that exempt 80% of public companies from disclosures and accountability on what executives get paid. The SEC even exempted most companies from the requirement that their auditor must swear that the company has systems in place to produce accurate financial information. So Mr. Dumas, is getting less information less often about a company's operations helpful for working people, for mom and pop investors, or for black communities? No, Senator, it's not helpful at all. (03:31–03:44)
CLAIM
Asserts that the SEC exempted most companies from auditor certification requirements.
This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.
