H.R. 3318

[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[H.R. 3318 Introduced in House (IH)]

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119th CONGRESS
1st Session
H. R. 3318

To require the reorganization of certain offices within the Securities 
and Exchange Commission, and for other purposes.

_______________________________________________________________________

IN THE HOUSE OF REPRESENTATIVES

May 9, 2025

Mr. Downing introduced the following bill; which was referred to the 
Committee on Financial Services

_______________________________________________________________________

A BILL

To require the reorganization of certain offices within the Securities 
and Exchange Commission, and for other purposes.

Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

This Act may be cited as the ``SEC Modernization Act''.

SEC. 2. COMMISSION ORGANIZATION.

(a) Changes to the Organization of the Commission.--
(1) In general.--The Securities and Exchange Commission 
shall--
(A) transfer the Office of the Secretary, the 
Office of the Ethics Counsel, and the Office of 
International Affairs into the Office of the General 
Counsel, with the heads of each transferred office 
reporting directly to the General Counsel;
(B) transfer the Office of the Chief Accountant, 
the Office of Credit Ratings, and the Office of 
Municipal Securities into the Division of Corporate 
Finance, with the heads of each transferred office 
reporting directly to the head of the Division of 
Corporate Finance;
(C) merge the Office of Legislative and 
Intergovernmental Affairs into the Office of Public 
Affairs, with the head of the larger of the two merged 
offices (by number of employees) becoming the head of 
the merged office, and such head reporting directly to 
the Chief of Staff; and
(D) transfer the Office of Investor Education and 
Advocacy into the Office of the Investor Advocate, with 
the head of the Office of Investor Education and 
Advocacy reporting directly to the Investor Advocate.
(2) Preservation of commission authority.--Paragraph (1) 
shall not prohibit the Commission from reorganizing the offices 
described in such paragraph in the future, if the Commission 
determines such reorganization is necessary or appropriate in 
the public interest or for the protection of investors.
(b) Regional Office Consolidation.--The Securities and Exchange 
Commission shall, if the Commission determines it appropriate, 
consolidate the regional offices of the Commission.
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