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H.R. 9329119th CongressOn the floor calendarLatest action Sep 3, 2026Decoded by AI · checked against the record
The plain-language version leads. The official text is always the reference.
The bill would eliminate the PCAOB and shift its auditing oversight duties into the SEC two years after enactment.
40-second read · 4 questions answered below
This bill increases SEC study and reporting requirements for new regulations, mandates twice-yearly SEC chair testimony to Congress, and orders a GAO audit of SEC cybersecurity. Its biggest change is eliminating the PCAOB two years after enactment and moving its functions into a new SEC "Office of Public Accounting Oversight." It also sets minimum public comment periods, requires GAO reviews of major SEC rules, and directs the SEC to simplify its internal structure and clarify how violations are counted for penalties.
Public companies, accounting and auditing firms, investment advisers, and the securities industry would face regulatory changes, as would SEC employees and leadership.
The changes could alter how quickly and thoroughly new SEC rules are written and how audits of public companies are overseen, indirectly affecting investors.
AI-drafted summary. Verify it against the official text before you act on it. Read the official bill on Congress.gov
Right now: it's on the House floor calendar. If the Senate changes it, it goes back to the House before reaching the President.
Latest action: — Placed on the Union Calendar, Calendar No. 694.