For the past two years, the SEC has sorted its mandates into six month completion periods based on staff estimates of when the agency would finalize the rules. Though the agency did not meet the July 2011 deadline for many of the rules, the regulator continued to publish a rough timetable on its website.
“Based on feedback we determined it would be more informative to announce actual schedules as the Commission determines them, rather than sort items into broad six-month windows,” John Nester, a spokesman for the SEC, said, according to The Wall Street Journal.
The SEC typically announces a vote on a specific measure approximately a week before its meetings, which are usually held to address controversial mandates. Less controversial rules, however, do not typically require a public meeting and are addressed with a sign-off by each SEC commissioner.
The agency proposed a large number of Dodd-Frank rules, though it has only finalized approximately 30 percent of the requirements. Investor advocates have voiced concern that the SEC will not finish its work, and the lack of a timetable estimate has exacerbated those concerns.
“They don’t appear to have a schedule for when to get this job done,” Barbara Roper, the director of investor protection at the Consumer Federation of America, said, The Wall Street Journal reports. “The longer you wait, the easier it is for opponents of reform to weaken the rules.”