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Transparency Crisis in Regulatory Agencies Exposed

September 12, 2024 | Financial Services: House Committee, Standing Committees - House & Senate, Congressional Hearings Compilation


This article was created by AI summarizing key points discussed. AI makes mistakes, so for full details and context, please refer to the video of the full meeting. Please report any errors so we can fix them. Report an error »

Transparency Crisis in Regulatory Agencies Exposed
During a recent government meeting, concerns were raised regarding the lack of transparency in how U.S. regulators interact with international bodies. Professor Skinner highlighted the secrecy surrounding these interactions, suggesting that it undermines accountability and public trust. Dr. Kupiak added that rather than being forced to adopt international standards, U.S. agencies are increasingly using these standards to shape their operations.

The discussion emphasized the importance of the Administrative Procedures Act, which mandates that agencies adhere to established rules. However, the participants expressed worry that the opaque nature of these international engagements could lead to a disconnect between regulatory actions and the American public's interests.

A member of Congress questioned whether there are specific instances where regulators have covertly integrated international information into U.S. laws or rules, underscoring the need for greater scrutiny and transparency in regulatory practices. The meeting underscored a growing call for accountability in how international standards influence domestic regulations.

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