SB 1806, the Business Owners Protection Act of 2025, would terminate certain Securities and Exchange Commission authorities created by the Dodd-Frank Wall Street Reform and Consumer Protection Act. The bill targets only those SEC authorities that give the agency discretion to decide whether to create requirements for private entities, and only where the SEC had not already issued a notice of proposed rulemaking or guidance document by January 1, 2025. In effect, it would eliminate a defined set of dormant or unused rulemaking powers rather than repeal all Dodd-Frank-related SEC authority.
The bill also requires the SEC to identify and report which authorities were terminated. Within 180 days after enactment, the Commission would have to submit to Congress and publish a public list of each authority that is ended under the new provision. The measure is framed as a regulatory rollback and transparency requirement, with the stated purpose of protecting business owners from future regulatory burdens that have not yet been formally pursued by the SEC.
Impact
If enacted, the bill would amend Section 23 of the Securities Exchange Act of 1934 to strip the SEC of certain discretionary authorities tied to Dodd-Frank that have not advanced to proposed rulemaking or guidance by the specified date. This would narrow the agency’s future ability to impose new requirements on private entities under those unused powers, while leaving existing rules and authorities already in motion untouched. It would also impose a reporting obligation on the SEC to catalog the terminated authorities for Congress and the public.
Sentiment
Based on the bill text and available context, the measure appears to be presented in a strongly pro-business, deregulatory frame. The title and findings implied by the bill suggest support for limiting unused federal regulatory authority and increasing certainty for private entities. No committee debate or votes are provided, so there is no recorded opposition or bipartisan support in the available materials, but the bill’s structure indicates an intent to reduce potential future SEC regulation rather than expand oversight.
Contention
The main point of contention is likely to be whether Congress should preemptively eliminate dormant SEC authorities simply because they have not yet been used by January 1, 2025. Supporters would likely argue that unused discretionary powers create uncertainty and invite future regulation without clear necessity, while critics may argue that the SEC should retain flexibility to address emerging market risks and that terminating authorities before rulemaking could weaken investor protection. The bill’s focus on Dodd-Frank-era powers and private-entity requirements suggests the most affected stakeholders would be the SEC, regulated businesses, and investor advocates.