This hearing marked the first appearance of the newly confirmed SEC Chairman, Mary Joe White, before the House Financial Services Committee. The hearing began on a negative note as Chairmen Hensarling berated the IRS for its biased handing of non-profit status applications. Then, citing a pending regulation requiring the corporate reporting of campaign contributions to the SEC, the Committee Chairman suggested that the issuance of this regulations could place the SEC in a same position of acting for partisanpurposes.

As for the oversight nature of the hearing, Members of the Committee asked many diverse questions on topics associated with the SEC. One topic in particular, the prompt issuance of the regulations to implement the Jobs Act, was stressed. Chairman White promised these regulations would be among the first items the SEC, under her tenure, would consider.