Requires the SEC to weigh costs and benefits before issuing rules, lengthens public comment periods, moves the Public Company Accounting Oversight Board's functions into an SEC office, and makes several other changes to securities regulation and SEC operations.

Official title: SEC Reform and Restructuring Act

Next stop House floor: awaiting a vote

Timeline each lane is a chamber; dates pull from congress.gov actions

House

Introduced 18-JUN-2026

Referred 18-JUN-2026

Approved by committee 30-JUN-2026

Reported 03-SEP-2026

On the calendar 03-SEP-2026

Key points

Requires the SEC to identify the problem a rule addresses, assess costs and benefits, and issue a rule only if benefits justify costs, with post-adoption assessments for major rules
Sets a minimum public comment period of 60 days, or 30 days where the SEC finds imminent investor harm
Abolishes the Public Company Accounting Oversight Board and transfers its oversight functions to a new Office of Public Accounting Oversight within the SEC, effective two years after enactment
Limits penalties so that related acts of noncompliance count as a single violation, and requires semiannual SEC chairman testimony to Congress and GAO audits of SEC IT systems and major rules

AI-generated from the Reported in House text of 03-SEP-2026 · verify · report an error

Official CRS summary

No CRS summary yet. CRS writes one for most bills, often months after they move.

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Committee referrals (1)

Policy area

Finance and Financial Sector

Sponsor Ann Wagner (R-MO) Cosponsors · 4

■ 4 R

4 Republicans

congress.gov page Reported in House (03-SEP-2026) Introduced in House (18-JUN-2026)