REG Act of 2026
- Bill Number
- H.R. 9434
- Origin Chamber
- House
- Congress
- 119th Congress, Session 2
- Policy Area
- Finance and Financial Sector
- Status
- Introduced
- Latest Action
- 2026-06-24: Referred to the House Committee on Financial Services.
- Last Updated
- 2026-07-06T18:51:26Z
AI-Generated Summary
Purpose of the legislation This bill aims to require the Securities and Exchange Commission (SEC) to evaluate the combined effects of new rules alongside related existing and proposed rules when assessing whether those rules promote efficiency, competition, and capital formation.
Key provisions outlined
- The bill amends four sections of federal securities laws to insert language requiring consideration of rules "when considered individually or cumulatively with other related rules or regulations or other related and recent proposed rules or regulations."
- Amendments apply to:
- Section 2(b) of the Securities Act of 1933
- Section 23(a)(2) of the Securities Exchange Act of 1934
- Section 2(c) of the Investment Company Act of 1940
- Section 202(c) of the Investment Advisers Act of 1940
Significant changes to existing law introduced Current law requires the SEC to consider whether rules promote efficiency, competition, and capital formation. This bill expands that requirement to include an explicit review of cumulative impacts with other related rules and recent proposals, rather than evaluating each rule in isolation.
Potential impacts on government agencies, citizens, or international relations
- Government agencies: The SEC would need to conduct additional analysis during rulemaking, potentially lengthening the process for new regulations.
- Citizens: Investors and companies may see slower adoption of rules, with possible effects on market oversight and compliance costs.
- International relations: No direct changes noted, though broader rulemaking considerations could indirectly influence how U.S. securities rules align with foreign standards.
Identify the main stakeholders affected by this legislation
- The Securities and Exchange Commission, as the primary agency responsible for securities rulemaking.
- Financial firms, investment companies, and advisers subject to SEC regulations.
- Investors and public companies impacted by securities rules.
Highlight any notable legal, constitutional, or political implications The bill directs the SEC to incorporate cumulative analysis into its statutory considerations, which could strengthen congressional oversight of agency rulemaking. No constitutional issues are addressed in the text, though it reflects an effort to limit regulatory expansion through added procedural requirements.
This summary was generated by AI and may contain inaccuracies. Refer to the official source document for the authoritative text.
Sponsor
Recent Actions
- 2026-06-24: Referred to the House Committee on Financial Services.
- 2026-06-24: Introduced in House
- 2026-06-24: Introduced in House
Bill Versions
- Reviewing the Expansion of Government Act of 2026 — issued 2026-06-24 — PDF (2 pages)