H.R. 9603: SEC Regulatory Accountability Act

117th Congress · introduced 2022-12-15 · Finance and Financial Sector · Latest: Referred to the House Committee on Financial Services.

federal

Follow this bill, step by step

Where it came from: introduced 2022-12-15 · official record
Who proposed it: Rep. Wagner, Ann [R-MO-2] · what a sponsor is
What happened next: no floor votes in our records yet. Why?
Where it stands now: Referred to the House Committee on Financial Services. Not final yet: this can still change. We check for updates every day.
If it becomes law and spends money: follow the money to money laws, then agencies and contracts and grants.

What does this mean?

Official title

SEC Regulatory Accountability Act

Plain summary

SEC Regulatory Accountability Act This bill direct the Securities and Exchange Commission (SEC) to make specified considerations before issuing securities regulations. Specifically, the SEC must identify the nature and source of the problem that the proposed regulation is designed to address; adopt a regulation only upon a reasoned determination that its benefits justify its costs; identify and assess available alternatives to any regulation; and ensure that any regulation is accessible, consistent, written in plain language, and easy to understand. In determining the costs and benefits of a proposed regulation, the SEC must consider its impact on investors, market liquidity, small businesses, and competition. In addition, the SEC must periodically review its existing regulations to determine if they are outmoded, ineffective, insufficient, or excessively burdensome and review, modify, streamline, expand, or repeal them accordingly. Whenever it adopts or amends a major rule, the SEC must state (1) the regulation's purposes and intended consequences, (2) metrics for measuring the regulation's economic impact, (3) the assessment plan to be used to assess whether the regulation has achieved its stated purposes, and (4) any foreseeable unintended or negative consequences of the regulation.

Congressional Research Service summary (Introduced in House), quoted unchanged (nonpartisan). Read the source.

What a vote does

A “Yea” vote

If it passes both chambers and is signed, it becomes law.

A “Nay” vote

If it is not passed, current law stays as it is.

PSI Sci description of the legislative step (not an opinion).

What does this mean? (plain words)

Official text

SEC Regulatory Accountability Act

Source: Congressional Research Service summary (Introduced in House)

AI explanation – may be wrong, check the official text

No AI explanation yet. It takes up to a minute to write and is then saved for everyone.

Limited to a few requests an hour per person.

The strongest published arguments

Arguments for (supporters)

Needs sources: no published arguments on this side yet. We only show items backed by a published source. Suggest one.

Arguments against (opponents)

Needs sources: no published arguments on this side yet. We only show items backed by a published source. Suggest one.

Alternatives

Needs sources: no published alternatives yet (for example a different bill, a law instead of an amendment, or keeping current law). We only show items backed by a published source. Suggest one.

How did my representative vote? · This bill's floor votes

Officials and money

Sponsor: Rep. Wagner, Ann [R-MO-2] · 0 cosponsors

Cost estimate: No cost estimate published yet.

Sponsor's campaign money: Rep. Wagner, Ann [R-MO-2] reported raising $4.2 million (2025–2026). Details. Shown for context only; it does not mean any donor supported this bill.

No linked floor roll calls in our collected records yet. This does not mean the bill has never had a vote. Check the official bill history.

Words on this page, explained (3)

Bill: A proposed law. It becomes law only if it passes the legislature and is signed by the president or governor (or a veto is overridden).
Rulemaking: The process agencies use to write regulations that carry out laws passed by Congress or a legislature. Usually an agency publishes a proposed rule, takes public comments, then publishes a final rule.
Securities: Financial investments that can be bought and sold, such as stocks and bonds.

Plain meanings written from linked sources. All words.

Sources

Congressional Research Service summary (Introduced in House)
Congress.gov
Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-117hr9603.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/117/hr>

Record fed-us-cong117-hr9603 · catalog fed-us-congress-bills-cong117 · updated 2026-11-15 by psicol fed-bills-cong117