The SEC Modernization Act restructures the internal organization of the Securities and Exchange Commission by consolidating several offices to streamline operations. Specifically, the bill moves the Office of the Secretary, Office of Ethics Counsel, and Office of International Affairs under the General Counsel's oversight; places the Office of the Chief Accountant, Office of Credit Ratings, and Office of Municipal Securities within the Division of Corporate Finance; merges the Office of Legislative and Intergovernmental Affairs with the Office of Public Affairs; and transfers the Office of Investor Education and Advocacy to the Office of the Investor Advocate. The reorganization affects SEC staff and management structure but preserves the Commission's authority to make additional organizational changes in the future if needed to protect investors. The bill also grants the SEC discretionary authority to consolidate its regional offices. No specific funding or implementation timeline is mandated by the legislation.
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