House committee approves bill to restructure the SEC

The House Committee on Financial Services has approved a version of the SEC Reform and Restructuring Act. This is an amended version of the bill, meaning the committee changed some of its original language before voting it out. The vote was 28 to 23.

Why it matters: This bill aims to change the organizational structure of the SEC; its practical impact depends on whether the changes are passed into law and how they alter the agency’s day-to-day regulatory authority.

Who it affects

• The Securities and Exchange Commission (SEC)

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This information comes from Congress.gov regarding a House committee action; readers should consult the full text of the bill before relying on it for legal or financial decisions.

Agency: House
Source: Congress.gov — read the official document