H.R. 9329 · On the floor · Finance and Financial Sector

SEC Reform and Restructuring Act

What it does

Requires the SEC to identify the nature, source, and significance of the problem a regulation addresses before proposing it, and to assess whether the SEC has jurisdiction and expertise over the subject matter.
Mandates the SEC utilize its Chief Economist to assess both qualitative and quantitative costs and benefits of proposed regulations, individually and cumulatively with other related regulations, and only issue regulations when benefits justify costs.
Directs the SEC to include in all proposed and final regulations the cost-benefit assessment results, an explanation of why the regulation meets SEC objectives better than alternatives, and a description of how it interacts with existing and proposed regulations.
Requires the SEC to conduct post-implementation assessments of major rules within 4 years, measuring economic impact against stated purposes using quantitative and qualitative metrics, with reports published in the Federal Register for public comment.
Transfers the Public Company Accounting Oversight Board from independent status to operation under the Securities and Exchange Commission, including its regulatory functions, standards-setting, and registration authority.

Sep 3, 2026: Placed on the Union Calendar, Calendar No. 694.

Committee: House Financial Services