S. 1806 — Business Owners Protection Act of 2025

This section terminates Securities and Exchange Commission (SEC) authorities established pursuant to the Dodd-Frank Wall Street Reform and Consumer Protection Act—including those created through amendments to the Securities Exchange Act of 1934—that provide discretion to impose requirements on private entities and for which the SEC issued neither a notice of proposed rulemaking under 5 U.S.C. §553 nor guidance before January 1, 2025. (Thus, upon enactment, the SEC loses discretion to pursue rulemaking on such unused Dodd-Frank authorities.) It further directs the SEC to submit to Congress and publish a list of terminated authorities within 180 days of enactment.