Ralph Norman

Mr. NORMAN

Mr. NORMAN. Madam Speaker, I rise to respond to one of my colleagues, who I think some of you heard, who is supporting what is going on on the college campuses today. She described it as peaceful protest. Madam Speaker, they are burning buildings. They are tearing up campuses. College presidents are not saying one word. This administration, this President, is not saying one word about it. Teachers, many of whom are tenured, are not saying one word. This has got to stop. They have got to have consequences. They have got to have sheriffs who are willing to do whatever it takes to stop this damage to our institutions and lawlessness that is taking place all across this country. The illegal immigration that this administration is condoning and implementing is unheard of in the history of this Nation. In South Carolina, they are giving illegals driver's licenses and registrations to vote. It is high time this country wakes up to the dangers that we face as a free democracy, if we can keep it. The first steps are stopping the lawless invasion at the border that, again, is unprecedented in this country. Laken Riley, the young lady who was killed in Georgia, her only mistake was jogging around the campus. How many more deaths do we have to have through fentanyl? It is insane what is going on in this country.

Mr. NORMAN

Mr. NORMAN. Madam Speaker, it is a privilege to be on this House floor and recognize people who have done great things for the community and for other people. Madam Speaker, I rise today to recognize Mr. Nick Selimos, whose service and dedication to his work continue to unite and uplift Washington, D.C., where over 589,000 government employees work and live. Nick has served as the maitre d' of The Monocle Restaurant for over 50 years this month. He is not an elected leader. He is not a lobbyist. He is not a congressional staffer. Yet, his impact and influence reaches as far as anyone with political power in this town would have. Nick knows about the lives of individuals who have walked into The Monocle every day. Not only does he know political affiliations, not only does he know committee positions or the bills they are working on, but he also knows how their spouses are doing, where their kids just got accepted to school, and when their next grandkid is on the way. It is his incredible memory paired with a genuine care for people that has made him a success in this town. When Nick started at The Monocle in 1974, Washington was a much smaller town, and the nature of politics and the entire political arena was much different. Nick has grown alongside it, matching the needs and changes in this town stride for stride. Nick's deep knowledge and understanding of the needs of his guests exemplifies why people continue to return to The Monocle, along with the great food that they provide daily. It is why I take my staff, my friends, and my family time and time again to The Monocle. He is truly an outstanding leader. His demeanor and dedication to service guide the atmosphere of the entire restaurant. As we recognize Mr. Nick Selimos, let us be inspired by his example so that we may do our work and that we may do it well for the betterment of the people we serve. He has set the gold standard for over 50 years, and his commitment and service will long be remembered. Madam Speaker, I hope we will all join in giving Nick a big thank- you.

Mr. NORMAN

Mr. NORMAN. Mr. Speaker, today, I rise to recognize and commend the exemplary bravery and selfless intervention of Colonel Trevor Hough. On Thursday, June 1, 2023, in Black Mountain, North Carolina, a pursuit unfolded involving a suspect for a series of bank robberies. The situation then escalated, as the suspect crashed on Interstate 240 after driving on the wrong side of the road, ending a high-speed pursuit. The immediate and fearless actions of Colonel Hough began after the crash when the suspect attempted to hijack an elderly woman's vehicle on the interstate as she was stopped by the traffic. Colonel Hough, a dedicated United States Army veteran with an impressive nearly 30-year service record, stepped in. Without hesitation, Colonel Hough ran toward the unfolding danger to intervene and protect the innocent victim of the carjacking. As the suspect attempted to steal the car, Colonel Hough managed to pull the suspect from the vehicle while two other veterans put the victim's car in park and tended to the victim herself. With incredible bravery, Colonel Hough overpowered and immobilized the suspect on the ground. Together with the two other veterans, they restrained the suspect until law enforcement arrived. Colonel Hough's military training proved invaluable in this critical moment. His quick thinking and decisive actions not only prevented a potential tragedy but also ensured the safety of others while on the interstate. Colonel Hough's heroism did not end there. He remained vigilant, assessed the situation, and displayed remarkable composure in the face of potential danger to himself. In recounting the incident, Colonel Hough shared that he noticed the suspect reaching behind his back, suggesting he may have had a weapon. Understanding the gravity of the situation, Colonel Hough acted with unwavering resolve, maintaining control until law enforcement could take over. It is with great admiration and gratitude that we acknowledge the exemplary bravery of Colonel Trevor Hough. His selfless actions exemplify the highest ideals of duty, honor, and service to others. This Nation is indebted to individuals like Colonel Hough, whose commitment to the well-being of his fellow citizens reflects the strength and character that make America great. I extend my sincere appreciation to Colonel Hough and all those who stand ready to act in the face of danger, embodying the spirit of service that defines the American people. May this congressional recognition serve as a testament to the courage and the selflessness exhibited by Colonel Trevor Hough. We thank him for his service. We pray that his continued health and commitment to this country will endure, as it definitely will.

Mr. NORMAN

Mr. NORMAN. Mr. Speaker, I rise today to recognize the exemplary actions of Detective Kelsey Wade of the Sumter Police Department, whose quick thinking and bravery undoubtedly saved a life on the night of February 9, 2024. On that fateful evening, officers were dispatched to respond to a shooting incident on Thomas Drive. Among them was Detective Kelsey Wade, who arrived at the scene promptly and without hesitation. Upon her arrival, she encountered a male victim with a serious gunshot wound to his neck. Undeterred by the severity of the situation, Detective Wade immediately sprang into action, identifying the severed artery and pinching it shut while providing first aid to the victim. Detective Wade's decisive actions undoubtedly played a pivotal role in stabilizing the victim's condition and ensuring that he received the necessary medical attention in a timely manner. Her selfless dedication to duty and unwavering commitment to protecting and serving her community exemplify the highest ideals of law enforcement. In recognition of her heroic efforts and exemplary service, I commend Detective Kelsey Wade for her bravery and professionalism. Her actions on the night of February 9th are a testament to her exceptional character and the values she upholds as a member of the Sumter Police Department's Investigations Division. Please join me in expressing our heartfelt gratitude and appreciation to Detective Kelsey Wade for her selfless service and dedication to the safety and well-being of our community.

Mr. NORMAN

Mr. NORMAN. Madam Speaker, I woke up this morning to a text from an elderly lady saying that we are under attack, can Congress do anything to protect our borders? The blood of further deaths of Americans is on your hands. I disagree with my good friends on the right side. This is anything but a national security bill. Look at what is happening at the border. Look at what is happening to the agents that got bum-rushed in El Paso last night. Now, anybody that votes for this bill, you are saying--and for all the listeners, are you agreeing to $500 million for Jordan, including $150 million for border security in Jordan? Are you agreeing, and do you like $125 million to help Egyptians attend college in Egypt? Is this where you want your money? Do you want $286 million for title X family planning, which is an abortion clinic? Folks, the list goes on and on. This is insanity. Here is the fix: I call on our Speaker--he is the only one that can do it-- to vote this bill down. Take that mace down--which has to be in place; it has been in place for 182 years to have a session in the House of Representatives--cut the lights off, and until the Senate accepts a total shutdown of the border, until they accept a total H.R. 2, we don't come back. Why fund a government that is working against us? It is total insanity.

Mr. NORMAN

Mr. NORMAN. Mr. Speaker, I thank the gentleman for yielding. Mr. Speaker, I am proud to speak on H. Res. 1065, denouncing the Biden administration's immigration policies. I woke up this morning to a picture of a policeman who was killed in a car accident driven by an illegal alien who was drunk and on drugs. Mr. Speaker, this resolution shouldn't be needed, but it is because the Biden administration, for 3 years, has violated the oath that he took to protect and defend the United States of America. What they don't want out is anything meaningful that would curb it because they know they have a rogue President who will not. It is intentional. What cannot be denied is the 9.3 million illegals now in this country. What cannot be denied is the 94 executive actions that this President took the day he took office. He started a relentless stream of executive orders to open our borders up to over 160 countries. What he can't deny is the 1.8 million known got-aways who evaded the United States Border Patrol. What he can't deny, for all you listeners in the balcony, is the 20,000 Communist Chinese nationals now in this country that pose a severe threat to every American who walks every street in every city in the United States. They cannot deny the crime statistics. The Venezuelan, Daniel Martinez, in New York City, on June 27, 2023, committed 14 crimes leading to 6 arrests, including the day he grabbed a stranger by the hair on the streets and dragged her and kicked her across the floor. On February 24, 2024, a Venezuelan national was arrested in Virginia for sexual offenses against a minor. He first crossed illegally in September 2023 and was released. In August 2023, a police officer in Virginia was struck by a Nigerian who was driving under the influence. He had only been in the country for 7 months. The police officer suffered a skull fracture. Additionally, one of many, but in May 2023, a Honduran raped a teenage girl in Alabama. Mr. Speaker, this is going to continue until this rogue administration determines they are going to shut the border. In the Rules Committee, I asked about the wall, and Ms. Jayapal mentioned the fact she didn't believe in a wall, which has been paid for by the Trump administration during his 4 years. I mentioned: What is the difference between the wall that has designated points of entry and the wall that was around the Capitol to hear the President of the United States talk?

Mr. NORMAN. Mr. Speaker, the bottom line is this administration has no desire to end the immigration. They want it for two things: power and change the Censuses of the States that are transporting them all over this country. It is an abomination, and support by a meaningful, new President will close the border down.

Mr. NORMAN

Mr. NORMAN. Madam Speaker, I rise today to honor the life of a truly great American, Mr. Sonny Adkins, Jr., who passed away on November 26, 2023. Sonny was born in York County, South Carolina, and was the husband of the late Billie Jones Adkins, who was truly the love of his life. In the early 1960s, Sonny started a business with his first sidekicks, as he called them, Billie Adkins and Sam Robinson. The name of his company was Adkins Oil Burner Service, later to become Adkins Heating & Cooling. Sonny ran his business every day focused on the care and love of his customers and built great relationships with all of the wonderful customers that he served. Sonny ended up raising his own workers, as his children grew up and became the Adkins' employees. Sonny said many times, ``I raised my own workers the way I wanted them to be.'' Each struggle he faced was a lesson to the family on how to live a full life. In his recent days, he spent time riding his hay fields on a mule planning for the next hay season in his head. His planning included detailed instructions for the farmhands, also his family and friends, on what was needed to be done, and, more importantly, how to do it right, which was Sonny's way. Sonny wore many hats. He was a God-loving man, a great teacher to his family, the land developer of Carrollton Place, and a farmer. However, the most important roles that he filled were being a wonderful son, brother, husband, father, uncle, paw paw, and friend. At his funeral, there was a poem that was read that I think was so fitting for the life of Sonny Adkins. It goes like this: Do not stand at my grave and weep. I am not there; I do not sleep. I am a thousand winds that blow; I am the diamond glints on snow. I am the sunlight on ripened grain; I am the gentle autumn's rain. Do not stand at my grave and mourn. I am the dew-flecked grass at dawn. When tranquil oceans meet the land I am the footprints in the sand To guide you through the weary day. I am still here; I'll always stay. When you wake up to morning's hush I am the swift uplifting rush Of quiet birds in circled flight. I am the stars that shine at night. Do not stand at my grave and cry. I am not there; I did not die. Many funerals we go to, the sermon doesn't match the man, but with Sonny Adkins, the words definitely matched the man, and what a tribute to a life well lived.

Mr. NORMAN

Mr. NORMAN. Mr. Speaker, I rise today to honor the outstanding work of Peggy Upchurch in Lake Wylie, South Carolina and the tremendous impact she has had on our great state and our local government. Peggy is an active member of the York County GOP where she currently serves as the Precinct President for the River Hills Precinct. She is the first Republican member of the York County Council since Reconstruction. She also served as a founding member of the Clover and Lake Wylie South Carolina Federation of Republican Women as both the President and Legislative Chair. Under her leadership, five additional clubs have been added to the SCFRW, including the first federated women's club in the 6th District of South Carolina. Peggy is continually looking for ways to best serve the people of South Carolina and has changed the lives of many by welcoming them into service alongside her. In addition to her commitment to service, I would like to recognize the impact that Peggy has had on South Carolina legislation. Peggy was instrumental in spotlighting state legislation, recruiting members to help advocate for South Carolina legislators to pass both the Heartbeat Bill and the Saving Women's Sports bill. Peggy has been a tireless proponent of judicial reform during the 2023 legislative season, organizing statewide meetings with multiple judicial leaders to address the issues that face South Carolina and our nation. Peggy has also been elected as a delegate or alternate delegate to the National Federation of Republican Women convention, and most recently led the South Carolina delegation in campaigning for the successful election of 2024- 2025 officers who are dedicated to protecting the dignity of biological women in leadership and society. Peggy is a leader among leaders and the impact she has had on South Carolina is built to last. On behalf of the 5th District of South Carolina, it is my most sincere pleasure to recognize her.

Mr. NORMAN

Mr. NORMAN. Mr. Speaker, I rise in strong support of H.R. 788, the Stop Settlement Slush Funds Act of 2023. To be honest with you, I am amazed we are even debating this. The other side always takes the position they are for the little man. We are talking about giving money to people who have been harmed instead of letting the Federal Government keep it. I also heard my colleague from Texas cite how government is the gold standard, how government provides clean air, clean water, clean streets. The very State that she and Representative Gooden are from, Texas, is being overrun by illegals. Where is the government? Where is the government in stopping this illegal invasion on the border? It is for pure power. It is for reelection purposes. They are putting the American people at severe risk. Let me give Congressman Gooden some other examples of money that did not go to the victim. It went to a slush fund that was not revealed until people were asking about it. It is the example of the Obama-era EPA settlement with Volkswagen, where billions were diverted to projects Congress explicitly chose not to fund. It went to projects Congress didn't even fund. We have to restore accountability and order. This bill will correct a horrible trend that is developing in government, and the people who support government now is less than 5 percent. They have lost trust in government. Mr. Speaker, I appreciate Mr. Gooden bringing this bill up. It is a great bill, and I hope we can get it passed.

Mr. NORMAN

Mr. NORMAN. Mr. Speaker, I rise today to recognize Officer Allen Brandon for his retirement following 30 years of service in public safety. Officer Brandon has served the Fifth District of South Carolina in many roles. In each, he displayed incredible leadership, bravery, honoring his community with incredible work and dedicated service throughout his career. In 1983, he began his service as a patrolman at the Tega Cay Police Department and was quickly promoted to a supervisor in 1985. He then moved to the York County Sheriff's Office where his work proved to make a true impact in the community. He held many roles, operating in the narcotics department for many years before being promoted again to the patrol lieutenant and the captain of the Uniform and Field Services Division. Officer Brandon's service is reflective of the values that the police force holds most important: accountability, integrity, honesty, and courage. Mr. Speaker, I would also like to take the time to recognize Mr. Brandon's family--his wife, Melanie; and his two children, Sarah and William. Working in the police force requires sacrifice and support from the entire family. In addition to his service on the police force, Officer Brandon has served the community as an elder at Forest Hills Church, a Keystone Board member, member of the Palmetto Boy Scouts Board, and a leader for the United Way of York County. Officer Brandon has set the gold standard for representing his community with pride and prioritized fairness and justice. Please join me in honoring Officer Brandon for 30 years of impactful service to the Fifth District of South Carolina. Mr. Speaker, I wish to offer Officer Brandon Godspeed in his retirement.

Mr. NORMAN

Mr. NORMAN. Mr. Speaker, I rise today in full support of this impeachment inquiry. I hope all the public tuned into the Rules Committee yesterday. My question: What are you scared of? What facts do you not want to come out? That was so evident. You spent more time quoting Donald Trump, January 6, anything but the facts about what Hunter Biden and his family did. The checks don't make themselves up that are written to this family. LLC accounts don't make themselves up. These are facts. What more to come out that you are hiding is so evident. This resolution follows the bar set by Democrats during the impeachment proceedings in 2019. We are playing by the same rules the Democrats set. If Democrats thought this process was fair for President Trump, they should think it is fair for President Biden. The evidence against the Bidens I think will come out and finally show what the trail is and the fact that there are consequences. You cannot just say you are innocent and not have to prove it. I fully support this inquiry.

Mr. NORMAN

Mr. NORMAN. Mr. Chair, I have an amendment at the desk.

Mr. NORMAN. Mr. Chair, what my amendment does is allow a 45-day waiting period between certification and removal of sanctions. I heard my good friend, Mr. Gottheimer, mention how this administration is the best friend Israel has. If that is the case, why is he wanting to give $6 billion to Iran which is the sponsor of terror? If he is so interested in protecting Americans, why does he have our border wide open for people to come illegally from every country around the world? This amendment is in response to an administration that has done anything but be on the side of Israel. Mr. Chair, I applaud the work of Chairman McCaul and the Foreign Affairs Committee for this commonsense legislation that effectively freezes the $6 billion of Iranian funds by imposing immediate and mandatory sanctions on financial institutions attempting to engage in transactions with these funds. Despite claims by the administration to the contrary, the $6 billion handed over to Iran by the Biden administration--to the country that is the leading sponsor of terror that has taken all of the hostages in that he shows pictures of--this money is fungible and Iran is complicit in the attacks launched on October 7 that killed close to 1,500 innocent people, some of which were at a music festival. I wholeheartedly support this legislation. However, I have one concern. Section 3 of this legislation contains language that allows President Biden to terminate sanctions if the President simply certifies in writing that Iran no longer provides support for terrorism and has ceased the development of nuclear weapons. This President simply will not do that. That is why he is letting the money go. As currently written, this legislation provides no opportunity for Congress to exercise oversight. The President can simply terminate sanctions if he thinks Iran meets certain requirements. In September 2023, the Biden administration waived sanctions to allow the $6 billion in Iranian funds in South Korean banks to be transferred to banks in Qatar in exchange for the release of five hostages. No matter what the Biden administration says, money is fungible. This deal gave Iran access to more money to fund its terrorist activities, including support for regional proxies like Hamas and Hezbollah. Just 1 month after this deal, Hamas launched its brutal attack on Israel, killing innocent civilians and taking dozens of hostages. We have seen what happens when we give too much authority to this executive branch. Their actions speak louder than their words. I don't want this to happen again. This is why my amendment would require a 45-day waiting period between Presidential certification and removal of sanctions to provide an opportunity for congressional oversight. The President shouldn't be doing this anyway. To not have a 45-day waiting period to try to correct and let Congress deal with what his actions are is incomprehensible to me. Mr. Chair, in closing, let me say I named some things that this President is doing. The purpose of my amendment is because of the $6 billion that is going to the leading sponsor of terror that the Biden administration is okaying. I will add another thing that has not been widely publicized. We have a sitting Member of Congress, Cory Mills, from Florida, who had to charter his own airplane to rescue hostages. When he contacted the Biden administration for support, they gave him no support. The Biden administration gave no support to rescue the hostages. The pictures were shown by my good friend, Josh Gottheimer. This is a wayward administration that is lawless. This amendment simply builds in additional time for Congress to conduct proper oversight of executive branch certifications. We should not continue to further delegate legislative authority derived from Article I of the Constitution to the executive branch. Mr. Chair, I urge my colleagues to support my amendment, and I yield back the balance of my time.

Mr. NORMAN

Mr. NORMAN. Mr. Speaker, I rise today to recognize the outstanding work of the Norman Hege family in Rock Hill, South Carolina, and their 72 years of outstanding service to generations of Rock Hill residents. April 15, 2023, marks 72 years since Norman Hege Jewelers opened its doors in Rock Hill. Norman Hege Jewelers is the definition of a successful family-run business built on a commitment to quality service and a dedication to their community. The watch repair business started with Norman Hege. As it grew, his wife, Kathleen, began taking a more active role. Soon after, their children, Steve, Mike, and Linda, were old enough to work at the store. Linda and Mike now co-own the very store that their father started and successfully run it with values that were held so closely by their parents--to offer quality products, treat customers with respect, and earn trust by being open and honest. Now, Norman Hege Jewelers has employed four generations of the Hege family. I also recognize the impact of the Hege family well beyond the customers who walk through their doors. The Heges have supported Rock Hill and York County throughout their 72 years in business. Norman Hege Jewelers donates homecoming crowns for local high schools, donates to a wide variety of causes in the Rock Hill area, and has built meaningful relationships with the entire community. Businesses like Norman Hege exemplify what makes the United States the greatest nation in the world. The Hege family continues to be devoted to their business and is looking forward to passing it down the family line. On behalf of the Fifth District of South Carolina, it is my most sincere pleasure to recognize Norman Hege Jewelers and the Hege family for this great service to our State. Please join me in recognizing this great family for its outstanding service in the jewelry industry and the legacy that they have built. They exemplify the words of the late great Winston Churchill when he said: There will be a time when doing your best isn't good enough; you have to do what is required. The Norman Hege family has done what is required to earn the respect and admiration of people throughout the State of South Carolina.

Mr. NORMAN

Mr. NORMAN. Mr. Chair, I have an amendment at the desk.

Mr. NORMAN. Mr. Chair, my amendment would prohibit funding from being used to carry out the actions described in Biden's October 31 fact sheet regarding cracking down on so-called junk fees that we have heard a lot about tonight. Specifically, this amendment would prevent funding from being used to implement the Department of Labor's controversial effort to crack down on so-called junk fees in retirement investing that could easily result and will result in higher fees and fewer investment options for hardworking Americans. Since the beginning of the Biden administration's whole-of-government crusade against so-called junk fees, it has been clear that the President and his officials are just targeting fees and practices that go against their own subjective preferences. The administration can't even define what a junk fee is. Maybe my good friend on the left could define what a junk fee is. Mr. Chair, I reserve the balance of my time.

Mr. NORMAN. Mr. Chair, I still didn't hear the definition of a junk fee. You have a politician and bureaucrats in the Department of Labor restricting what commissions brokers who are in a competitive business can charge willing buyers. Again, you have government that is trying to restrict commissions on funds and annuities they can provide to savers. Currently, this compensation practice is disclosed to investors and enables brokers to charge less because of the additional compensation. The White House fact sheet does not dispute that fees may actually increase as a result of this rule. This proposal is misguided and risks creating confusion in the marketplace, unwarranted compliance expenses, and instability for retirement plans, retirees, and savers. Again, this is done voluntarily, depending on who you deal with. It is a competitive business. You have politicians who have probably never been in the workforce and bureaucrats trying to dictate what they do. Don't take my word for it. Listen to the experts who serve in the industry, who actually work in the industry. According to the American Council of Life Insurers, a fiduciary-only regulation would shut off access to important retirement tools and hurt the very people the regulation intends to help. The National Association of Insurance and Financial Advisors is concerned this proposal will have the effect of substantially reducing consumer access to investment and will create a substantial advice gap for potentially millions of individuals who need professional guidance to understand and make investment decisions-- their own decisions, without government interference--on their retirement accounts. Mr. Chair, I urge passage of my amendment, and I reserve the balance of my time.

Mr. NORMAN. Mr. Chair, I close with the fact that my good friend from the left points out one example. What about the millions of people who are profitable, who choose to get into the stock market, who choose their broker, who choose to pay the so-called junk fees that politicians shouldn't get involved with, nor should the government get involved with? Mr. Chair, I urge passage of my amendment, and I yield back the balance of my time.

Mr. NORMAN

Mr. NORMAN. Mr. Chairman, I yield the balance of my time to the gentleman from Arkansas (Mr. Womack).

Mr. NORMAN. Mr. Chair, as the designee of Mr. Steil, I have an amendment at the desk.

Mr. NORMAN. Mr. Chair, as the designee of Mr. Steil, I have an amendment at the desk.

Mr. NORMAN. Mr. Chair, I fully support Chairman Perry's amendment. This agency is a rogue agency. Let me give an example to my friend to my left. The CFPB is irresponsible and reckless. In February 2023, a CFPB employee made an unauthorized transfer of records to a personal email account containing personal information of 256,000 customers. It affected over 45 institutions. We sat with Mr. Chopra during a hearing. He is unregulated. I don't know if you have ever been on a bank board, but they are the most regulated group. Do you know who pays the price, the fines, that they come up with through vague, in today's world, climate change? All these customers up here that are trying to borrow money. It never should have existed. To keep it funded and to keep it as it exists with the personnel, we are going backward. Mr. Chair, I fully support this amendment.

Mr. NORMAN. Mr. Chair, I have an amendment at the desk.

Mr. NORMAN. Mr. Chair, what my amendment does is prohibits the use of funds to finalize, implement, or enforce a proposed rule titled: ``Conflicts of Interest Associated With the Use of Predictive Data Analytics by Broker-Dealers and Investment Advisers.'' On July 26, 2023, the SEC proposed a new rule that requires broker- dealers and investment advisers to confront challenges posed by predictive data analytics and related technologies like artificial intelligence. They did this despite no evidence that this technology harms investors. While technological innovation has significantly enhanced the financial industry's capabilities in auditing, reporting, recordkeeping, trading, and surveillance, the SEC's proposed rule, despite claiming to be technology-neutral, appears to be fundamentally hostile to these advancements. This rule creates a comprehensive regulatory regime governing any analytical or computational tool whereby information potentially relevant to investments is presented to the public. This misguided, paternalistic rule declares it is a ``conflict of interest'' for a firm to communicate to customers any information generated using technology that so much as ``takes into consideration'' any interest of the firm. Mr. Chairman, I reserve the balance of my time.