; and (B) for each recommendation listed under subparagraph (A), explains why the Commission does not consider it appropriate or does not have sufficient authority to adopt the recommendation or to adopt the recommendation without material modification. (g) Definitions In this section: (1) Appropriate congressional committees The term appropriate congressional committees means the Committee on Financial Services of the House of Representatives and the Committee on Banking, Housing, and Urban Affairs of the Senate. (2) Chairman The term Chairman means the Chairman of the Commission. (3) Commission The term Commission means the Securities and Exchange Commission. (4) Securities laws The term securities laws has the meaning given such term in section 3(a) of the Securities Exchange Act of 1934 ( 15 U.S.C. 78c(a) ). 821. Process to permit recipient of Wells notification to appear before Commission staff in-person (a) In general Not later than 180 days after the date of the enactment of this Act, the Securities and Exchange Commission shall establish a process under which, in any instance in which the Commission staff provides a written Wells notification to an individual informing the individual that the Commission staff has made a preliminary determination to recommend that the Commission bring an administrative or judicial action against the individual, the individual shall have the right to make an in-person presentation before the Commission staff concerning such recommendation and to be represented by counsel at such presentation, at the individual’s own expense. (b) Attendance by Commissioners Such process shall provide that each Commissioner of the Commission, or a designee of the Commissioner, may attend any such presentation. (c) Report by Commission staff Such process shall provide that, before any Commission vote on whether to bring the administrative or judicial action against the individual, the Commission staff shall provide to each Commissioner a written report on any such presentation, including any