“To require the reorganization of certain offices within the Securities and Exchange Commission, and for other purposes.”
No CRS summary available for this bill.
This section requires the Securities and Exchange Commission (SEC) to reorganize certain offices as follows: (1) transfer the Office of the Secretary, Office of Ethics Counsel, and Office of International Affairs to the Office of the General Counsel, with their heads reporting directly to the General Counsel; (2) transfer the Office of the Chief Accountant, Office of Credit Ratings, and Office of Municipal Securities to the Division of Corporate Finance, with their heads reporting directly to the division head; (3) merge the Office of Legislative and Intergovernmental Affairs into the Office of Public Affairs, with the head of the larger office (by employee count) leading the merged office and reporting to the Chief of Staff; and (4) transfer the Office of Investor Education and Advocacy to the Office of the Investor Advocate, with its head reporting directly to the Investor Advocate. The section preserves the SEC's authority to further reorganize these offices if necessary in the public interest or for investor protection and authorizes the SEC, if it deems appropriate, to consolidate its regional offices.