On April 17th, SEC Chairman Mary L. Schapiro testified before the Subcommittee on TARP, Financial Services and Bailouts of Public and Private Programs, House Oversight and Government Reform Committee, regarding the SEC's rulemaking process, its procedures for economic analysis, and recent improvements including new guidance and increased involvement of economists. Testimony. On April 16th, Reuters offered details and insight into the staff-circulated guidance memo regarding the procedure changes. Rulemaking.