SEC Reform and Restructuring Act

12/16/2024, 7:27 PM
Placed on the Union Calendar, Calendar No. 647.
Bill 118 hr 8339, also known as the SEC Reform and Restructuring Act, is a piece of legislation currently being considered by the US Congress. The bill aims to reform and restructure the Securities and Exchange Commission (SEC), which is the federal agency responsible for regulating the securities industry and protecting investors.

The main provisions of the bill include increasing the SEC's funding and resources to better enable it to carry out its regulatory responsibilities. This includes hiring additional staff, improving technology and data analytics capabilities, and enhancing enforcement efforts.

Additionally, the bill seeks to streamline and modernize the SEC's regulatory processes, making it more efficient and effective in overseeing the securities industry. This includes implementing new rules and procedures to improve transparency, accountability, and investor protection. Furthermore, the bill includes provisions to enhance the SEC's oversight of emerging technologies and digital assets, such as cryptocurrencies and blockchain technology. This is aimed at ensuring that the SEC can effectively regulate these rapidly evolving areas of the financial industry. Overall, the SEC Reform and Restructuring Act is designed to strengthen the SEC's ability to protect investors, maintain fair and efficient markets, and promote capital formation. It represents a bipartisan effort to modernize and improve the regulatory framework for the securities industry in the United States.
Congress
118

Number
HR - 8339

Introduced on
2024-05-10

# Amendments
0

Sponsors
+5

Cosponsors
+5

Variations and Revisions

5/10/2024

Status of Legislation

Bill Introduced
Introduced to House
House to Vote
Introduced to Senate
Senate to Vote

Purpose and Summary

Placed on the Union Calendar, Calendar No. 647.
Bill 118 hr 8339, also known as the SEC Reform and Restructuring Act, is a piece of legislation currently being considered by the US Congress. The bill aims to reform and restructure the Securities and Exchange Commission (SEC), which is the federal agency responsible for regulating the securities industry and protecting investors.

The main provisions of the bill include increasing the SEC's funding and resources to better enable it to carry out its regulatory responsibilities. This includes hiring additional staff, improving technology and data analytics capabilities, and enhancing enforcement efforts.

Additionally, the bill seeks to streamline and modernize the SEC's regulatory processes, making it more efficient and effective in overseeing the securities industry. This includes implementing new rules and procedures to improve transparency, accountability, and investor protection. Furthermore, the bill includes provisions to enhance the SEC's oversight of emerging technologies and digital assets, such as cryptocurrencies and blockchain technology. This is aimed at ensuring that the SEC can effectively regulate these rapidly evolving areas of the financial industry. Overall, the SEC Reform and Restructuring Act is designed to strengthen the SEC's ability to protect investors, maintain fair and efficient markets, and promote capital formation. It represents a bipartisan effort to modernize and improve the regulatory framework for the securities industry in the United States.
Alternative Names
Official Title as IntroducedTo make improvements to the securities laws, and for other purposes.

Policy Areas
Finance and Financial Sector

Comments

APPROVED
AH
Annika Hobbs
@tullamore_sansho_idli_podi24790
So like, what does this bill do exactly? I heard it's supposed to like, make changes to the SEC or something? How will this affect me in the short term? #confused #politics #HRBill8339

APPROVED
PG
Paula Gardner
@patty_pan_garlic_chives_montreal_steak_seasoning61168
I can't believe this new bill, like, seriously? Who even came up with this crap? It's like they're just trying to mess with us for no reason. I mean, why do they think this is a good idea? It's just gonna make things worse for everyone. And don't eve...

APPROVED
AB
Adaline Booth
@tamarillo_speyburn_idli_podi68450
I'm really excited about this new bill! It's going to help make our financial system more secure and efficient. I think it's great that they're taking steps to prevent another economic crisis. This bill will benefit all Americans by ensuring a stable...

Recent Activity

Latest Action11/29/2024
Placed on the Union Calendar, Calendar No. 647.