# 119-hr-9329: SEC Reform and Restructuring Act

119-hr-9329, SEC Reform and Restructuring Act, is a 119th Congress bill sponsored by Rep. Wagner, Ann [R-MO-2] (R-MO); status in_committee; PRIA reads it as touching household money (as of 2026-11-01).

- Canonical: https://policyrisk.com/legislation/119-hr-9329
- As of: 2026-11-01
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: 119-hr-9329
- Congress: 119
- Title: SEC Reform and Restructuring Act
- Status: in_committee
- Introduced: 2026-06-18
- Sponsor: Rep. Wagner, Ann [R-MO-2] (R-MO)
- Cosponsors: 4
- Policy area: Finance and Financial Sector
- Touches household money: yes
- Last recorded action: 2026-11-01

## Summary

**Stronger cost‑benefit review for SEC regulations** is the bill’s core goal, requiring clear pre‑rule and post‑rule economic analyses so the Commission must explain why benefits justify costs. It also moves public company audit oversight into the SEC, orders GAO audits of SEC IT and major rules, and sets minimum public comment periods plus regular testimony to Congress. - Market participants and investors: Proposed and final SEC rules must identify affected parties, document why the rule meets its goals, and include qualitative and quantitative cost‑benefit work by the SEC Chief Economist. For rules deemed "major" the SEC must adopt a post‑adoption impact assessment plan with a 4‑year timeline and a 30‑day public comment window. - Public accounting firms and audit oversight: The bill replaces the Public Company Accounting Oversight Board with an Office of Public Accounting Oversight inside the SEC, transfers registration, inspections, disciplinary authority, and standards oversight, and phases the change over a 2‑year transition period. Funding for the oversight program shifts to annual accounting support fees subject to SEC approval. - SEC operations and public oversight: The Comptroller General must audit SEC information technology and data within 1 year and then study major SEC rules every 3 years. The SEC Chair must testify to key congressional committees at least every 6 months and the Commission must allow a minimum 60‑day public comment period for most proposals, or 30 days for imminent investor harm.

## Cosponsors (4)

- Rep. Downing, Troy [R-MT-2] (R-MT), 2026-06-18T00:00:00.000Z
- Rep. Sessions, Pete [R-TX-17] (R-TX), 2026-06-18T00:00:00.000Z
- Rep. Huizenga, Bill [R-MI-4] (R-MI), 2026-06-18T00:00:00.000Z
- Rep. Kim, Young [R-CA-40] (R-CA), 2026-06-29T00:00:00.000Z

## Provisions PRIA read

- More cost reviews for SEC rules: mixed, high. If enacted, the bill would require the SEC to do detailed cost‑benefit work before and after issuing regulations. The SEC would use its Chief Economist to prepare quantitative and qualitative cost and benefit analysis, consider alternatives, and make a reasoned determination that benefits justify c…
- Public company audit oversight changes: mixed, high. If enacted, the bill would move public company audit oversight into a new Office of Public Accounting Oversight inside the SEC’s Office of the Chief Accountant. The SEC Chief Accountant would serve as Director and the new Office would run inspections and disciplinary proceedings for registered publ…
- New penalty-counting rule for securities: mixed, medium. If enacted, the bill would add a uniform rule across major securities laws to treat related acts as a single violation for penalty purposes when they come from the same cause, the same misstatement, or a continuing failure. The change would apply across the Securities Act of 1933, the Exchange Act,…
- SEC IT and agency reorganization: mixed, medium. If enacted, the bill would require a GAO audit of the SEC's information technology and data handling within one year. The audit must compare SEC IT spending to other federal financial regulators and assess cybersecurity, contracting, and recent incidents. The bill would also require the SEC Chair t…

## Related bills

- 119-hr-6955: Main Street Capital Access Act
- 119-hr-6644: 21st Century ROAD to Housing Act
- 119-hr-833: Educational Choice for Children Act of 2025
- 119-hr-10184: Consumer Financial Protection Accountability and Reform Act of 2026
- 119-hr-1422: Enhanced Iran Sanctions Act of 2025
- 119-hr-1919: Anti-CBDC Surveillance State Act

## Sources
- [119-hr-9329 on Congress.gov](https://www.congress.gov/bill/119th-congress/house-bill/9329)

## Related
- [119-hr-6955: Main Street Capital Access Act](https://policyrisk.com/legislation/119-hr-6955)
- [119-hr-6644: 21st Century ROAD to Housing Act](https://policyrisk.com/legislation/119-hr-6644)
- [119-hr-833: Educational Choice for Children Act of 2025](https://policyrisk.com/legislation/119-hr-833)
- [119-hr-10184: Consumer Financial Protection Accountability and Reform Act of 2026](https://policyrisk.com/legislation/119-hr-10184)
- [119-hr-1422: Enhanced Iran Sanctions Act of 2025](https://policyrisk.com/legislation/119-hr-1422)
- [119-hr-1919: Anti-CBDC Surveillance State Act](https://policyrisk.com/legislation/119-hr-1919)
- [All bills in Congress](https://policyrisk.com/legislation)

Source: PRIA, https://policyrisk.com/legislation/119-hr-9329 (as of 2026-11-01).