Question

New Commission rules must be approved by which of the following entities?

A) The President of the United States
B) The Federal Reserve Board
C) The U.S. Congress
D) The Commission members or voting members of the regulatory body

Answer 1

New Commission rules are approved by the Commission members or voting members of the regulatory body, such as the Federal Open Market Committee in the case of financial regulations.

Step-by-step explanation:

New Commission rules must be approved by the members of the Commission itself or the voting members of the regulatory body. In the context of financial market regulations, this would typically mean that the Federal Open Market Committee (FOMC) or similar bodies within the Federal Reserve System would approve these rules. The FOMC is made up of the seven members of the Federal Reserve's Board of Governors and five voting members from regional Federal Reserve Banks. Decisions are typically made by consensus and can involve powerful shaping by the chairman of the Federal Reserve.