<p>RICHMOND, Va. – State Senator Thomas Norment Jr. (R-James City) has introduced a bill that would increase the size of the State Corporation Commission (SCC) from three to five members. The announced changes are partly in response to the findings of two studies of the agency conducted last year. Most of the changes will be made Feb. 1. One of the most important changes will involve the creation of a buffer between the SCC and its regulatory staffs. Two new counsels will help ensure that the regulatory staff doesn't have "undue" influence on SCC decisions. As part of another major change, the chairman of the commission will be named the agency's chief operating officer. The SCC has authority over state-chartered financial institutions, public utilities, insurance, securities businesses, retail franchising and railroads.</p>
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